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This Week in Apps: Apple talks App Store fraud, responds to antitrust complaints; Facebook growth is slipping Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. The app industry continues to grow, with a record 218 billion downloads and $143 billion in global consumer spend in 2020. Consumers last year also spent 3.5 trillion minutes using apps on Android devices alone. And in the U.S., app usage surged ahead of the time spent watching live TV. Currently, the average American watches 3...

Korea's Kakao Buys Radish, Tapas Storytelling Apps for $950 Million Todd Spangler, provided by FacebookTwitterEmail UPDATED: Serialized fiction app Radish is being acquired by Kakao Entertainment, the entertainment arm of Korean internet giant Kakao, in a transaction valued at $440 million. In addition, Kakao Entertainment said it is buying Tapas Media, which says it has more than 3 million readers of its short-form online mobile content, for $510 million. More from Variety “Tapas and Radish are two amazingly powerful storytelling platforms, and we welcome them into the Kakao Entertainment...

As Naver closes $754 million CAD acquisition of Wattpad, Allen Lau is looking to scale South Korean internet company Naver Corp. has officially acquired Wattpad for more than $754 million CAD ($600 million USD). With the deal now closed, Toronto-based Wattpad has become a Naver brand alongside WEBTOON, a global leader in webcomics that Wattpad will work closely with moving forward. Wattpad’s core app will continue to operate independently while both content companies explore new ways to collaborate. Wattpad CEO and co-founder Allen Lau will report to WEBTOON CEO Jun Koo Kim....

Naver’s US$600 million acquisition of Wattpad, announced early this year, is completed just as potential competition arrives from Amazon’s new Kindle Vella and Seoul’s Kakao. In Seoul, a line of bus passengers and their cell phones during the coronavirus COVID-19 pandemic. Image – Getty iStockphoto: Wonseok Jang South Korea’s Kakao Is Also a Buyer: Radish and Tapas In January, as you’ll recall, it was announced that the Toronto-based Wattpad  was to be acquired by Naver, a South Korean Internet search engine conglomerate, the home of Webtoon, a digital comics platform. In its mes...

Wattpad co-founders Allen Lau (left) and Ivan Yuen Naver, the South Korean internet conglomerate that owns digital comics platform Webtoon, has completed its acquisition of Canada-based digital storytelling platform Wattpad. The US$600m deal, which was announced early this year, aligns Wattpad with Webtoon, with the aim of bringing more new, diverse voices to screens and bookstores around the world. Wattpad will remain headquartered in Canada under the continued leadership of co-founders Allen Lau and Ivan Yuen. Lau, who is also CEO, will report to Webtoon CEO Jun Koo Kim. As part of Naver, W...