Reported 4 months ago
Webtoon Entertainment, an online comics platform owned by South Korean company Naver Corp, disclosed in its United States IPO filing that it achieved profitability in the first quarter and grew revenue by 5%. Founded in 2005 by CEO Junkoo Kim, the platform has 170 million monthly active users and offers a library of web novels and comics. Webtoon's net income for the quarter was $6.2 million, with revenue reaching $326.7 million. The company is set to list its shares on Nasdaq under the symbol "WBTN," with Goldman Sachs, Morgan Stanley, J.P. Morgan, and Evercore ISI as the lead underwriters.
Source: YAHOO