WEBTOON RISES MODESTLY IN IPO DEBUT

Summary from the TLDR Founders newsletter

Webtoon Entertainment's shares surged nearly 10% on their first trading day after a successful IPO, raising $315 million and valuing the company at approximately $2.67 billion. The platform, known for its vertical scroll format, boasts 170 million monthly active users globally. It has paid over $2.8 billion to creators since 2017. Despite impressive revenue figures, the company reported a net loss of $145 million in 2023.