Tech

Storytelling incubator Wattpad is getting bought for over half a billion dollars


After We Collided, a sequel to a film adaptation that came from a Wattpad author. | Photo: Aviron

Last week, we told you how Wattpad has become a place where budding authors can sometimes turn their work into Hollywood film and TV, with Hulu, Netflix and others adapting Wattpad writers’ labors into titles like The Kissing Booth, Light as a Feather and After We Collided. But it looks like Wattpad may no longer be trying to become an entertainment tastemaker all on its own — South Korean web company Naver is buying Wattpad for over $600 million, the companies announced today.

While details are scarce, it seems like Naver already sees Wattpad as a natural pairing with one of its other brands — Webtoon, an online webtoon publishing portal that similarly allows artists to upload their own work and similarly spawns TV and anime…

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Source The Verge

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