Korean giant Kakao Entertainment, which acquired webtoon platform Tapas and digital prose platform Radish last year (see "Tapas Is Main Course"), has merged the companies into a single entity which will also provide an umbrella for Asian fantasy fiction platform Wuxiaworld. Radish will be the surviving company, run by Tapas Founder and CEO Chang Kim, who will also continue as Global Strategy officer at Kakao Entertainment.
Kakao, which says it developed the original novel-to-comics model that takes webnovels and develops them into webtoons, plans to use the new entity to create a pipeline of intellectual property from webnovel to webtoon and other media including films, television, and gaming. "Tapas, Radish, and Wuxiaworld each bring a huge lineup of content IPs to the table, and when we put them under one banner with Kakao Entertainment’s proven ability to generate and monetize original stories, it will pave the way for unparalleled growth and generate more success stories," kako Entertainment CEO Jinsoo Lee said of the deal.
Tapas boomed during Covid, with 10X year-over-year revenue growth in 2021, the company said, generating over $2 million per month in creator payments.

Tapas CEO To Run Combined Company
Posted by Milton Griepp on May 20, 2022 @ 2:53 am CT

MORE COMICS
Diamond Bankruptcy Round-Up
April 4, 2025
There were a number of additional events in the Diamond Comic Distributors bankruptcy this week, which we round up here.
From Marvel Comics
April 3, 2025
Goofy web-swings as Marvel's most iconic super hero in Marvel & Disney: What If…? Goofy Became Spider-Man #1.
MORE NEWS
New Supplement Book from Warlord Games
April 4, 2025
Warlord Games will release Bolt Action: Armies of the United States 3E into retail.
Declares GAMA 'Deeply Siloed and In Many Ways, Broken'; GAMA Responds
April 4, 2025
She posted that she had resigned her position, declaring in her post, since removed, that GAMA was "…deeply siloed and in many ways, broken." GAMA responds.