United States Los Angeles Online Comics Platform Webtoon Entertainment Files for United States IPO on Nasdaq to Raise $315 Million with Target Valuation at $2.67 Billion, Majority-Owned by South Korea Tech & Search Engine Giant Naver & Will Own 63.4% after IPO, Founded in 2004 by CEO Junkoo Kim Who was a Search Engineer at Naver as a Side Project, Webtoon Has 24 Million Creators with 170 Million Active Monthly Active Users at the End of 2023
19th June 2024 | Hong Kong
United States Los Angeles-based online comics platform Webtoon Entertainment has filed for a United States IPO on Nasdaq to raise $315 million with target valuation at around $2.67 billion. Webtoon is majority-owned by South Korea tech & search engine giant Naver, which will own 63.4% of Webtoon after the IPO. Webtoon was founded in 2004 by CEO Junkoo Kim, who was a search engineer at Naver as a side project (Webtoon). Webtoon has 24 million creators with 170 million active monthly active users at the end of 2023. Webtoon (17/6/24): “WEBTOON Entertainment Inc. (“WEBTOON” or the “Company”), a leading global entertainment company and home to some of the world’s largest storytelling platforms, today announced that it has launched the roadshow for the initial public offering of its common stock. WEBTOON is offering 15,000,000 of its common stock. The initial public offering price is expected to be between $18 and $21 per share. WEBTOON also intends to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of common stock. WEBTOON has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol “WBTN”. Goldman Sachs & Co. LLC and Morgan Stanley are acting as lead bookrunning managers for the proposed offering. J.P. Morgan and Evercore ISI are acting as active bookrunning managers for the proposed offering. Deutsche Bank Securities, UBS Investment Bank and HSBC are acting as joint bookrunning managers. Raymond James and LionTree are acting as co-managers.”
“ United States Los Angeles Online Comics Platform Webtoon Entertainment Files for United States IPO on Nasdaq to Raise $315 Million with Target Valuation at $2.67 Billion, Majority-Owned by South Korea Tech & Search Engine Giant Naver & Will Own 63.4% after IPO, Founded in 2004 by CEO Junkoo Kim Who was a Search Engineer at Naver as a Side Project, Webtoon Has 24 Million Creators with 170 Million Active Monthly Active Users at the End of 2023 “
United States Los Angeles Online Comics Platform Webtoon Entertainment Files for United States IPO on Nasdaq to Raise $315 Million with Target Valuation at $2.67 Billion, Majority-Owned by South Korea Tech & Search Engine Giant Naver & Will Own 63.4% after IPO, Founded in 2004 by CEO Junkoo Kim Who was a Search Engineer at Naver as a Side Project, Webtoon Has 24 Million Creators with 170 Million Active Monthly Active Users at the End of 2023
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