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…
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