Further to recent reports that storytelling website Wattpad had put itself up for sale, on Tuesday publicly-held Korean internet conglomerate Naver said it would acquire Wattpad for cash and stock valuing the company at over $600 million. (The mix of cash versus stock is not being disclosed at this time.) Korea’s largest search engine, Naver’s properties also include digital comics publisher Webtoon — said to have 72 million monthly active users — which it sees as pairing well with Wattpad’s community. The deal is expected to close some time in the second quarter. Naver has a market cap of roughly […]
