![]() With a growing global user base of Gen Z readers and writers on Wattpad and WEBTOON, combined with hundreds of millions of incredible stories to fuel on-screen hits, Naver is quickly becoming an important player in the global entertainment and content market.” Gen Z around the world have fallen in love with storytelling platforms like Wattpad and WEBTOON. ![]() "Through this acquisition, it is expected that the synergy between WEBTOON and Wattpad will be even greater. “Wattpad has created something truly unique: an engaged, positive global community of people who share a passion for great stories,” said Seong-Sook Han, CEO of Naver. WEBTOON Studios has worked with The Jim Henson Company Crunchyroll Vertigo Entertainment - the production company behind the IT franchise and The Lego Movie Bound Entertainment - the global studio led by Snowpiercer and Okja producer Samuel Ha. WEBTOON is home to some of the biggest names in webcomics, including Lore Olympus, Rachel Smythe's Eisner Award-nominated series. Together, these two leading comics, entertainment, and storytelling companies, will reach a combined global monthly audience of more than 166 million people. The company’s Story DNA Machine Learning technology has revolutionized the art and science of understanding and finding great stories to adapt for TV, film, or to publish as books.Īs previously announced, the acquisition will align Wattpad with Naver’s WEBTOON, and the company's monthly average of 72 million users around the world. Wattpad has created a new type of online writing influencer, catapulting a new generation of authors to international fame. Along with sponsored brand partnerships, and TV, film, and book adaptations, Wattpad Paid Stories are just one of a growing number of paths for Wattpad writers to earn money from their work. The company recently celebrated a key milestone: since launching in 2019, writers in Wattpad’s Paid Stories program have earned more than a million dollars. Wattpad’s creator-first approach to nurturing and supporting reading and writing communities has helped authors around the world build a global audience and make money on the platform. With a global community of 94 million people-including five million writers-who have written more than one billion uploads on the platform, Wattpad is a global leader in social storytelling and entertainment. Wattpad’s core app will continue to operate independently, while exploring new ways to collaborate with WEBTOON and other Naver brands. ![]() The acquisition strengthens Naver’s leadership in social storytelling and entertainment, adding Wattpad’s expertise in machine learning, IP discovery, and data-backed TV and film development to Naver’s world-class roster of entertainment and content brands like WEBTOON. ![]() Wattpad will grow its teams by nearly 50% in 2021, adding close to 100 new roles in engineering, marketing, content, and other parts of the company to continue to execute its vision to entertain and connect the world through stories. CEO & co-founder Allen Lau will report to WEBTOON CEO Jun Koo Kim.Īs part of the Naver family of world-class brands, Wattpad will focus on its continued growth and innovations, expanding its teams, and developing new initiatives to reward writers on the platform. The company will remain headquartered in Canada under the continued leadership of founders Allen Lau and Ivan Yuen. TORONTO and SEOUL, Naver, South Korea’s internet conglomerate, and Wattpad, the global multi-platform entertainment company for original stories and a leading social storytelling platform, today announced that Naver has completed its acquisition of Wattpad in a cash and stock transaction valued at more than an estimated USD $600 million. Wattpad plans to grow its team by nearly 100 people in 2021 Wattpad, the world’s leading social storytelling platform, and WEBTOON, the global leader in webcomics, are now both Naver brands, with a combined global monthly audience of more than 166 million peopleĪcquisition sets up Wattpad for continued growth and global leadership, including new investments in user initiatives to help Wattpad authors build an international audience and make money
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