Why Naver’s Wattpad and Webtoon Partnership is ‘A Whole New Wild Ride’

·1-min read

Wattpad executives are hailing potential collaborations with Webtoon under the umbrella of South Korea’s internet conglomerate Naver as “a whole new wild ride” for both companies. Naver acquired text-based storytelling platform Wattpad in a cash and stock transaction valued at more than $600 million, with the deal closing earlier this month. Wattpad and Webtoon, digital home to thousands of cartoon stories, reach a combined global audience of 160 million people, according to a company statement. “You take two companies that are driven by audience by fans and by … creators all over the world, we are quite literally, doubling the power that we have as two groups,” Wattpad Studios head Aron Levitz said, calling the two companies a “perfect collaboration” under Naver. “We’re really just going to be able to continue to both play to our strengths.” He added, “We both started from one very simple point, which is, we take care of creators who are creating billion universes.” Wattpad’s social storytelling platform welcomes fiction content, which the company hopes may be developed into digital comic book content. Wattpad will remain headquartered in Canada under the leadership of founders Allen Lau and Ivan Yuen. Lau, who is CEO of Wattpad,...

Read original story Why Naver’s Wattpad and Webtoon Partnership is ‘A Whole New Wild Ride’ At TheWrap

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting