Podotree is the content arm of Korean tech firm Kakao and manages the Kakao Page social network and Daum Webtoons digital-comics service. The unit raised 125 billion won (about $107M) at a 500 billion won (about $428M) valuation. Kakao said the proceeds will be used to grow the Webtoon business, acquire new IP and licensing rights, and expand into video content. Daum Webtoons is positioned to capitalize on rising global demand for digital comics in Korea, Japan and elsewhere. As part of Kakao, Podotree can leverage Kakao’s large user base—Kakao’s messaging service has about 150 million users worldwide and is installed on more than 90% of Korean smartphones. The article places Podotree’s raise in the context of Kakao’s broader corporate moves, including its merger with Daum and other affiliate-level strategic actions.

Total raised

$110M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2016