Tapas Media sold for just over half a billion dollars in cash - feltonandesch
Tapas Media sold for just over fractional a billion dollars in cash
The South Korean internet giant Kakao has come to damage to acquire the webcomics company Tapas Media in an all-cash in on transaction of $510 1000000 (US). Kakao is acquiring Tapas direct its media supplementary, Kakao Entertainment.
"We'Ra indeed thrilled to join forces with Kakao Amusement. To me, it just makes immaculate sensory faculty," says Tapas Media founder/CEO Chang Kim in the announcement. "Kakao Entertainment is relatively unknown outside of Asia, but they'ray an amusement content Juggernaut with a massive library of seminal IP, which can be introduced to the US hearing through and through the Tapas platform."
While Tapas will now be developing Kakao's content, the webcomics company will continue its current strategy with webcomics and prose writing - with Kim even locution all of that will nowadays get on "a larger scale."
"This merger means a change of cap board, not of mission. Our squad, our alone company culture, and our awesome creator community – everything will stay the same. Kakao Entertainment is tops impressed with our recent success," Kim continues. "Our revenue grew five times last twelvemonth, making us uncomparable of the top interpretation apps in the US; We developed more 80 original stories with our creators, which are now being pitched as TV, film, and publish book projects."
Kim will stay on as CEO of Tapas, while likewise taking happening the role of global scheme military officer with its parent company, Kakao Entertainment.
In the beginning launched in 2012 arsenic Comics Panda, Tapas Media has become one of the giants in the webcomics sector. Finish year, the company reported an average each day revenue of $60,000 and boasts 8 billion page views across 96,000 original webcomics/prose novels. In increase to its deals for creator-owned comics, Tapas has partnerships with Scholastic, Boom! Studios, the Hachette Book Group, and more.
Earlier this class, Tapas hired former DC co-editor in chief-in-chief Michele Herbert George Wells to be its chief fanciful policeman.
Tapas is one of many ways to read comics digitally - jibe out our list of the best digital comics readers for Android and iOS devices .
Source: https://www.gamesradar.com/tapas-media-sold-for-just-over-half-a-billion-dollars-in-cash/
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