Forums » General » Tapas Media sold for just over half a billion dollars in cash
Tapas Media sold for just over half a billion dollars in cash
The South Korean internet giant Kakao has come to terms to acquire the webcomics company Tapas Media in an all-cash transaction of $510 million (US). Kakao is acquiring Tapas through its media subsidiary, Kakao Entertainment.
"We're so thrilled to join forces with Kakao Entertainment. To me, it just makes perfect sense," says Tapas Media founder/CEO Chang Kim in the announcement. "Kakao Entertainment is relatively unknown outside of Asia, but they're an entertainment content juggernaut with a massive library of original IP, which can be introduced to the US audience through the Tapas platform." all slot
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 saying all of that will now be on "a bigger scale."