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Naver buys Wattpad for $600m

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, Wattpad will focus on continued growth and innovation, expanding its teams and developing new initiatives to reward writers on the platform.

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Wattpad to Be Acquired for $600 Million by Parent Company of Webtoon

Wattpad to Be Acquired for $600 Million by Parent Company of Webtoon
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