Wattpad Raises $600 million Acquisition

Wattpad raised $600M in Acquisition financing led by Naver. User-generated stories platform acquired by Korean internet giant. The new capital is framed around Integrate Wattpad IP into Korean and global entertainment production pipeline.

What it does

User-generated stories platform acquired by Korean internet giant. The business sits in AI & Machine Learning, where funded companies are using fresh capital to deepen product coverage, distribution, or operating capacity.

Traction

90M monthly active users; 1,000+ stories adapted into films and TV shows. Management framed the new capital around Integrate Wattpad IP into Korean and global entertainment production pipeline.

Trend impact

User-generated fiction platform creating the next generation of entertainment IP. The capital raise matters because it gives the company more room to compete for customers, talent, and mindshare while incumbents and adjacent startups respond with clearer product depth or distribution.

Funding history

• January 1, 2021 · Acquisition · $600 million · Naver

Products & services

• AI & Machine Learning workflow monitoring tied to the funding announcement
• Customer-facing product described on the company website
• Operational tooling for ai & machine learning teams
• Data capture and reporting across core business processes
• Team expansion support funded by the latest round