Naver Webtoon Targets Hundreds of Piracy Sites Ahead of Public Listing


Naver Webtoon Targets Hundreds of Piracy Sites Ahead of Public Listing

Kim Junkoo, CEO of Webtoon Entertaiment, a division of South Korean tech giant Naver, recently said that rivals such as Amazon and Apple will struggle to compete with his company in the short-form comic sector. Ahead of a potential U.S. listing, Kim told Reuters that if ‘Big Tech’ is serious, “they’d have to buy us out.” In parallel, Webtoon appears to be quietly laying the groundwork to tackle less-discussed competition; hundreds of pirate sites offering the company’s content for free.

webtoon-3Launched by South Korean tech giant Naver Corporation in 2004, Webtoon gained popularity as a hosting platform for a specific type of short-form digital comic, known locally as ‘webtoons’

Almost two decades later, Webtoon Entertainment has over 85 million active users per month across more than 100 countries. In the United States, where the company now boasts 12.5 million active users, Webtoon seems destined for a public listing, potentially as soon as 2024 according to information shared by Naver during a recent earnings call.

In an August interview with Reuters, Webtoon Entertainment founder and CEO Kim Junkoo was certainly bullish on the company’s future. Rivals moving in on the short-form comic market, which include both Amazon and Apple, will struggle to build a viable business, Kim predicted.

The rest of this article can be read on

Source link


Please enter your comment!
Please enter your name here