Podotree Raises $106.5M in Funding

podotreePodotree, a Seoul, South Korea-based a subsidiary of mobile and web company Kakao, reportedly raised $106.5m in funding.

The round, which has valued the company at $428m, was led by Anchor Equity Partners, with participation from Singapore-based GIC Private Limited among others.

Led by Beom Kim, Podotree provides the Kakao messaging service, which has 150 million users worldwide, the Kakao Page social network and Daum Webtoons, a digital comic platform.

The company intends to use the funds to grow the Webtoon business, buying new IP and licensing rights and expanding into video content.



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