Naver‘s on-line comics platform Webtoon Leisure is looking for to lift as a lot as $315M by way of an preliminary public providing within the U.S.

The California-based Webtoon begins buying and selling on the Nasdaq International Choice Market at this time and is providing 15 million in frequent inventory at a worth of $21 a share, with underwriters given the choice to purchase a further 2.25 million shares on the identical worth within the subsequent 30 days.

A subsidiary of Korean tech big Naver Company, the U.S.-based Naver U.Hub, is individually being issued almost 2.4 million frequent inventory shares on the identical IPO worth, producing a further $50M.

Ought to the IPO attain the goal Naver has set, it might worth Webtoon at almost $2.7B.

The platform presents entry to 1000’s of Japanese and Korean webcomics and novels. It claimed to have almost 170 million month-to-month lively customers in additional than 150 international locations on the finish of March, with greater than 24 million creators. It additionally homes net comedian and manga app Line Manga, net novel platform Wattpad and Korean net comedian platform Naver Webtoon.

Webtoon’s standing has grown as fascinating round content material from Japan and Korea continues to develop, particularly within the U.S., although the ‘webtoon’ business, because it’s identified, has been operational for twenty years and is predicted by analysts to develop into a $60B enterprise by 2030.

Increasingly TV and movie variations are popping out of the sector in genres resembling fantasy and romance. Simply this month, Deadline revealed James Van Der Beek is starring in Tubi Authentic Sidelined: The QB and Me, which relies on a Wattpad story from Tay Marley, for instance. Toronto-based Wattpad and Webtoon merged their manufacturing operations in 2021 to kind Wattpad Webtoon Studios, which former Fox leisure chief David Madden leads.