Start United States USA — software Naver acquires storytelling platform Wattpad for $600 million

Naver acquires storytelling platform Wattpad for $600 million

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Naver will secure 160 million monthly users for its content business through the acquisition.
South Korean search giant Naver announced on Wednesday it has agreed to wholly acquire Canadian fiction platform Wattpad for 653 billion won, approximately $593 million. Naver said it expects to close the deal within the first half of 2021. Toronto-based Wattpad, founded in 2006, has over 90 million monthly users that spend over 23 billion minutes a month on the platform.

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