Published 3 years ago

South Korea's biggest web company acquires Wattpad for $600 million

Summary by Engadget

Webtoon and Wattpad may soon be inextricably linked. Naver, the South Korean internet giant behind the Webtoon digital comics platform, will acquire Wattpad for a deal worth US$600 million in cash and stocks. Neither side has revealed what that means exactly, but The Hollywood Reporter says they’ll share a platform for their combined audience of 160 million users.

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Yahoo News

WEBTOON parent NAVER announces approval of agreement to acquire Wattpad

The Board of Directors of WEBTOON™'s parent company, NAVER, announced today that it has approved a definitive agreement to acquire leading social storytelling platform, Wattpad, in a cash and stock transaction valued at more than an estimated USD 600 million.

3 years ago·Los Angeles, United States

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Global News

‘An incredible milestone’: Canadian tech darling Wattpad to be sold to South Korea’s Naver

Wattpad said its board of directors unanimously approved a cash and stock transaction Tuesday that will see it acquired by South Korean internet giant Naver later this year.

3 years ago·Toronto, Canada

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Daily Hive

Canadian-based Wattpad to be acquired by South Korean internet giant for $660M

The Canadian-based storytelling company Wattpad will be acquired by the South Korean internet giant, Naver, for $660 million. On January 19, Wattpad announced that its board approved an agreement to be acquired by Naver, the owner of WEBTOON. “We are excited to align Wattpad, a leading social storytelling company, with WEBTOON, a leading digital comic publisher, under the same umbrella. Together, we will help more creators make money, bringing…

3 years ago·Canada

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