Wattpad has been bought by Naver
Wattpad is being acquired by Naver, the South Korean conglomerate, in a $600 million cash-and-stock deal.
Naver plans to incorporate at least part of the business into another of its holdings, the publishing platform Webtoon, which Naver launched in 2004, brought to the U.S. in 2014, and that features thousands of comic strips created by its users. It also has a huge audience. According to Naver, Webtoon was averaging more than 67 million monthly users as of last August.
The independent author, wattpad, and fanfic communities I follow are abuzz about this acquisition. Where Netflix now browse for book ideas to adapt? Have any fav wattpad fics you wanna save before changes happen, Omona?
*Thanks for fixing tags, mods.