Naver’s US$600 million acquisition of Wattpad is completed as potential competition arrives from Amazon’s new Kindle Vella and Seoul’s Kakao.
The merger between Canada’s Wattpad and South Korea’s Naver, says Allen Lau, is built on audience and platform expansion.
Toronto-based Wattpad will retain its leadership team following its acquisition by South Korean tech company Naver, in a US$600 million cash and stock deal.
Taking a more aggressive stance in development of its properties, Wattpad Studios announces projects and writers for new film and television adaptations.
As streaming entertainment makes ‘all content global,’ says Wattpad’s Aron Levitz, the most successful studios will listen to their audiences.
WattPadPresents is a special multimedia program that the reading and writing platform uses in The Philippines to leverage TV and film for authors.
• In August, Wattpad published usage analytics for downloads and readers of the company’s ebooks. The report covers desktop usage, as well as some 1,000 different phone models from 600 carriers in 160 countries (excluding China). • While English-language books and readers using smartphones remains the strongest segment, growth among Southeast Asian readers using Java-based feature phones is nearly as …