Webtoon Entertainment, known to Thai audiences as LINE WEBTOON, has caught the attention of investors as it recently made its IPO debut on the NASDAQ stock market in the United States. The company’s shares, traded under the symbol WBTN, saw an initial increase from $21.00 per share to closing at $23.00 per share, marking a 9.52% uptick and a total market value of $2.92 billion.
Established in 2005 by CEO Junkoo Kim, Webtoon started as a special project while he worked as an engineer overseeing the search system at Naver. With the funds raised from this IPO, Webtoon plans to expand its presence in the American market, mirroring its success in Asia. The platform generates 80% of its revenue from content sales, 10% from advertisements, and 10% from various licensing agreements.
TLDR: Webtoon, also known as LINE WEBTOON in Thailand, has successfully entered the US stock market with its IPO debut, showing promising growth opportunities and plans to expand its market presence in America.
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