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Naver acquires Wattpad for over $600M
Wattpad, an online social storytelling platform, announced that it will be acquired by South Korea’s Naver in a cash and stock transaction valued at over $600 million.
Following the deal’s completion, Toronto-based Wattpad will remain headquartered in Canada under the continued leadership of its founders.
Founded in 2006, Wattpad previously raised $118 million in known venture funding, per Crunchbase data. The company says its global community reached 90 million people in 2020 — including more than five million writers
Other news
Trump pardons Levandowski: In the final hours of his presidential term, Donald Trump issued a pardon to former Google engineer Anthony Levandowski, who was sentenced for stealing a trade secret on self-driving cars before heading to Uber’s rival unit.
Funding rounds
Neurent raises $25M Series B: Neurent Medical, an Irish startup developing treatments for chronic inflammatory sino-nasal diseases, announced it has closed a $25 million Series B financing led by new investor LSP.Illustration: Dom Guzman
English (US)