FedEx Stock Drops After Weak 2026 Earnings Forecast Despite Strong Q4 Results 
Tesla and NatPower Partner on $5 Billion Battery Storage Expansion in Europe 
Nike CFO Shake-Up Fuels Concerns Over Turnaround Strategy 
SK Hynix Moves Closer to New York ADR Listing Amid AI Chip Boom 
SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business 
Bain Capital Nears Deal for Majority Stake in Volkswagen Marine Engine Unit Everllence 
WiseTech Global Denies Knowledge of Investigation Into Founder Richard White 
SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices 
Meta Pauses Employee Activity Tracking Program Over Data Security Concerns 
Heineken Names JDE Peet’s CEO Rafael Oliveira as New Chief Executive 
DOJ Opens Investigation Into NYC Coffee Shop Over Anti-Goldman Social Media Post 
Nissan Halts Electric Qashqai Development Amid EV Market Challenges 
Doncasters Raises $919 Million in NYSE IPO as Aerospace Growth Accelerates 
Trip.com Shares Tumble After Q1 Profit Drops and Weak Revenue Growth Outlook 
Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock 
Samsung and SK Hynix Shares Jump After Micron Earnings Boost AI Chip Optimism 
Naver Corp. announced this week that it is acquiring the social storytelling platform Wattpad. The online writing and reading site is based in Toronto, Canada, and there are over five million writers who are currently contributing their stories on the site.
Naver’s expansion through the acquisition of a new platform
Now Naver, South Korea's leading search engine and digital tech company, is buying the Wattpad to expand its own storytelling business. The company is also home to Webtoon, a popular platform for online comics reading, so by adding the Canadian site where writers can publish their stories, Naver will be able to offer a variety of reading materials to the public.
As per The Korea Herald, Naver’s acquisition of Wattpad is aimed at "strengthening its North American business and diversifying the global content business." It will also allow Wattpad to broaden its reach and continue to achieve growth and success on the global stage.
Then again, while Naver will now own the company, it will remain headquartered in Canada. It will also continue to be run under the leadership of its original founders Ivan Yuen and Allen Lau.
“Co-founders Allen Lau and Ivan Yuen, and the entire team at Wattpad, have created something special, and we are grateful to have Allen and Ivan continue to lead this fantastic company for us post-acquisition,” Seong Sook Han, Naver’s CEO, said. “Wattpad’s vision to entertain and connect the world through stories fits perfectly with our vision for Webtoon and Naver’s content brand. We’re thrilled to have them join the Naver family.”
About South Korea’s Naver
The company is considered as the South Korean version of Google. It is a search engine that also offers mobile services, including the mobile messenger called LINE, video messenger Snow and many more.
As mentioned earlier, it also created Webtoon that has millions of readers for its featured comics. It is home to various content created by the platform users, and Wattpad is expected to be Naver’s Webtoon counterpart that features fiction stories.
Finally, The Hollywood Reporter reported that Naver is expected to finalized and close the deal with Wattpad in the first half of this year.
