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Naver Buys Wattpad For $600M+, Trump Pardons Levandowski, And More – Crunchbase News


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Naver acquires Wattpad for over $600M

Wattpad, an online social storytelling platform, announced that it will be acquired by South Korea’s Naver in a cash and stock transaction valued at over $600 million.

Following the deal’s completion, Toronto-based Wattpad will remain headquartered in Canada under the continued leadership of  its founders.

Founded in 2006, Wattpad previously raised $118 million in known venture funding, per Crunchbase data. The company says its global community reached 90 million people in 2020 — including more than 5 million writers

Other news

Trump pardons Levandowski: In the final hours of his presidential term, Donald Trump issued a pardon to former Google engineer Anthony Levandowski, who was sentenced for stealing a trade secret on self-driving cars before heading to Uber‘s rival unit.

Funding rounds

  • Neurent raises $25M Series B: Neurent Medical, an Irish startup developing treatments for chronic inflammatory sino-nasal diseases, announced it has closed a $25 million Series B financing led by new investor LSP.
  • Tamara inks $6M for BNPL platform: Saudi Arabia-based Tamara, a fintech company focused on “buy now, pay later,” closed on a $6 million seed round led by Impact46.

New fund

Blue Horizon closes first fund: Zurich-based Blue Horizon Ventures, a sustainable food system-focused venture capital fund, announced it has raised 183 million euros ($221.6 million) to close its first flagship fund, Blue Horizon Ventures I. The fund is backed by more than 100 investors including the European Investment Fund. Blue Horizon invests in startups making a positive global impact on the environment, human health and animal welfare, with a main focus on alternative proteins, synthetic biology, cultivated food, smart packaging and food waste. The firm has made 16 investments since being founded in 2018, most recently leading Netherlands-based Mosa Meat‘s Series B in December, according to Crunchbase data.

Illustration: Dom Guzman

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