Webtoon Entertainment, the world’s largest webcomic platform, has announced its market value at $2.67bn (£2.11bn) ahead of its US listing on the Nasdaq stock exchange. The company’s shares are set to start trading on 27 June at $21 each, the top end of their marketed range.
Owned by South Korean tech giant Naver, Webtoon has 170 million monthly active users across 150 countries. The company plans to sell 15 million shares, aiming to raise $315m in its initial public offering (IPO). The world’s largest fund manager, BlackRock, is interested in purchasing up to $50m of shares.
Webtoon Entertainment also owns Line Manga, Wattpad, and Naver Webtoon, offering thousands of titles in action, romance, horror, and science fiction. The webtoon industry, which emerged in South Korea two decades ago, has become a global cultural phenomenon alongside K-pop and Korean dramas. According to Spherical Insights & Consulting, the industry’s revenue reached $4.7bn in 2021 and is projected to grow to $60.1bn by 2030.
Expanding Global Reach and Influence
Webtoon Entertainment’s IPO underscores its rapid growth and the increasing global popularity of digital comics. The company’s platforms have become cultural staples, leveraging the rise of mobile-optimized content consumption. With a diverse portfolio of web comics and related digital media assets, Webtoon Entertainment continues influencing the global entertainment landscape.
