Reported 8 months ago
Webtoon Entertainment, majority-owned by South Korean tech giant Naver, plans to target a valuation of up to $2.67 billion in its US IPO. The company aims to raise $315 million by offering 15 million shares in a price range of $18 to $21 each. Webtoon, founded nearly two decades ago by CEO Junkoo Kim as a side project, operates an online comics platform catering to Gen Z and millennial users, connecting 24 million creators with nearly 170 million monthly active users worldwide. Naver will continue to hold a 63.4% stake in Webtoon after the IPO.
Source: YAHOO