• Download the Constitution of Pakistan
  • Advertise
Sunday, June 22, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Business

Kakao to invest into an online novel app Radish for $440 million

by Web Desk
May 11, 2021
in Business, New, World
Reading Time: 2 mins read
0
Kakao
Share on FacebookShare on TwitterLinkedinWhatsapp

On Tuesday, it was said that the Online fiction app Radish is being bought for $440 million by South Korean internet conglomerate Kakao, making a multi-millionaire of its 30-year-old founder only five years after he set it up.

The pay-to-read platform presents serialised storytelling in bite-sized instalments optimised for smartphones, with readers paying around 20 to 30 US cents to access the next episode immediately, or wait for an hour to read it for free.

Likened to a Netflix for novels, Radish recruited in-house soap-opera scriptwriters including several Emmy Award winners to “present the newest and brightest in entertaining, diverse serial fiction to readers”, the company says.

There are currently more than 50 such original series, and the category accounted for more than 90 percent of the company´s revenue of $20 million last year, it said.

It also acts as a platform for independent writers, and says on its website that some make nearly $40,000 every three months.

Founder and CEO Lee Seung-yoon set up the company after graduating from Oxford in 2016 and attracted funding from investors including SoftBank Group´s venture arm and Lowercase Capital.

The unit buying his firm, Kakao Entertainment, already produces original content of its own from web novels to TV series, movies and music, he said, adding the acquisition would realise his vision “on a much larger scale and in a fascinating way”.

Some South Korean internet firms have struggled to expand their operations overseas and Radish said in a press release the deal would expand Kakao´s “reach in North America and other English-speaking territories”.

Tags: iOSKakaoMessaging AppNetflixSeoulSmartphone appSouth Korea
Web Desk

Web Desk

Related Posts

PM directs to acquire ships on lease to enhance fleet of PNSC

PM directs to acquire ships on lease to enhance fleet of PNSC

by News Publishing
June 20, 2025
0

Prime Minister Muhammad Shehbaz Sharif has directed the authorities concerned to acquire ships on lease to enhance fleet of Pakistan...

Sindh Unveils Budget 2025-26 with Pay and Pension Increases

Sindh Unveils Budget 2025-26 with Pay and Pension Increases

by Haris Ali
June 13, 2025
0

On June 13, 2025, the Sindh government unveiled the Budget 2025-26, announcing a series of financial relief initiatives for its...

Passenger Car Sales Surge Over 32% in Eleven Months

Passenger Car Sales Surge Over 32% in Eleven Months

by Haris Ali
June 13, 2025
0

In Pakistan, passenger car sales have increased by more than 32 percent, reaching 94,388 units in the first eleven months...

Pakistan, UAE Leaders Vow Stronger Cooperation in Pursuit of Peace and Stability

Pakistan, UAE Leaders Vow Stronger Cooperation in Pursuit of Peace and Stability

by Haris Ali
June 13, 2025
0

Pakistan and the United Arab Emirates (UAE) reaffirmed their commitment to close coordination and cooperation in pursuit of regional peace...

10% Salary Bump, More Pension: Govt Unveils Employee Relief Package

10% Salary Bump, More Pension: Govt Unveils Employee Relief Package

by News Publishing
June 11, 2025
0

The federal cabinet approved a 10% pay raise for federal employees and a 7% pension boost for pensioners during its...

Govt to unveil Rs17.6tr FY26 budget in National Assembly today

Govt to unveil Rs17.6tr FY26 budget in National Assembly today

by News Publishing
June 10, 2025
0

Federal Minister for Finance Muhammad Aurangzeb is scheduled to present the federal budget for the fiscal year 2025–26 in the...

Next Post
Razak

Pakistan’s exports to Afghanistan increased by 15pc: Razak

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters