Reported 4 months ago
Webtoon Entertainment Inc., backed by Naver Corp., has filed for a US initial public offering, disclosing a net loss of $145 million on revenue of $1.28 billion last year. The online comics operator could seek to raise up to $500 million at a valuation of $3 billion to $4 billion, with Naver continuing to control it post-IPO. The offering will be led by Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co., and Evercore Inc., with Webtoon planning to trade on the Nasdaq Global Select Market under the symbol WBTN.
Source: YAHOO