I haven’t been involved with Wattpad for a while now, so it’s a strange feeling—though not in a bad way—to catch up on all the details about WEBTOON and Wattpad in the SEC filing. From what I’ve gathered, WEBTOON is performing exceptionally well, with revenue now surpassing $1 billion.

Three years ago, one of the main reasons I was drawn to Naver WEBTOON among all the suitors was Naver’s intention to spin out WEBTOON, together with Wattpad, as a separate, entertainment-focused, NASDAQ-listed company. This was a significant undertaking with numerous challenges, and the WEBTOON team is delivering on the promise. I’m pleased to see that Wattpad is playing a crucial role in this upcoming IPO.

The timing has turned out to be ideal for both WEBTOON and myself personally. With the rise of generative AI, the media industry is undergoing a new wave of massive disruption. It’s exciting to see WEBTOON raising more capital to seize this opportunity. From a distance, I wish the WEBTOON team all the best!

At Two Small Fish Ventures, we’re equally excited as we witness many incredible AI-native media startups and are actively investing in several amazing ones. I’ll share more about this in future posts.

This is a once-in-a-decade, platform-shift opportunity. It is arguably the biggest platform shift in the past century! TSF is actively investing in the next frontier of computing and its applications as a lead investor or as part of a syndicate. If you’re a founder of an early-stage AI-native company—media or not—don’t hesitate to reach out to us, as TSF is a rare investor who understands this space extremely well, and possibly the best investor with real-world operating experience who can help you achieve massive success like Wattpad did.

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