Todd Spangler NY Digital EditorSerialized fiction app Radish is being acquired by Kakao Entertainment, the entertainment arm of Korean internet giant Kakao, in a transaction valued at $440 million.Word of the deal comes as South Korea’s Naver on Monday announced the completion of its $600 million-plus takeover of Wattpad, a user-fiction story app.Radish’s board of directors and a majority of its shareholders have approved the acquisition, which is expected to close in June.
According to Kako Entertainment, the addition of Radish will strengthen its web-toons and web-novel business and expand its reach in North America and other English-speaking territories.Founded in 2016, Radish tapped into a vein of demand for serialized stories,.
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