Wattpad to Be Acquired for $600 Million by Parent Company of Webtoon
Todd Spangler NY Digital EditorWattpad, the user-generated fiction platform and entertainment company, announced that it agreed to be acquired by Korean internet conglomerate Naver, parent of digital comics platform Webtoon, in a deal worth more than $600 million.Seoul-based Naver plans to acquire Wattpad in a cash and stock transaction valued at more than $600 million, subject to customary adjustments and other terms, the companies announced.