Bennett Coleman & Co, Globe Telecom and Tencent are set to exit the story sharing community operator in a cash-and-stock acquisition transaction by Naver.

Internet company Naver has agreed to acquire Wattpad, a Canada-based written content sharing platform backed by corporate investors Bennett Coleman & Co, Globe Telecom and Tencent, for more than $600m. Founded in 2006, Wattpad has built an online community with more than 160 million monthly users that allows members to upload and distribute written works…

The rest of this content is only accessible to Corporate Venturing: News, Data, and Events - Global Corporate Venturing Subscribers.

This content is only accessible to subscribers. If you are a subscriber, please sign in. Otherwise, if you would like to try before you buy and haven't previously taken out a free trial, you can do so below. You can also see details on subscriptions by clicking the Subscription Options button.