KakaoPage made an announcement on the 18th that it has become the biggest shareholder of Indonesia’s contents company Neobazar.
Neobazar, established in January 2015, is Indonesia’s leading online comic service. It is currently operating webtoons and web novels. It surpassed 1.7 million app downloads and is currently number one in Indonesia’s paid webtoon market.
Indonesia has the world’s fourth largest population with 270 million people, and young consumers who favor smartphones are more than 100 million. By taking advantage of developing markets in Indonesia, it is planning to expand its business to other parts of Southeast Asia like Taiwan and Malaysia.
“This acquisition is the first step in the process of KakaoPage, which has been working hard to create an ecosystem of Korean contents in foreign markets.”
Lee Jin-soo, CEO of KakaoPage.
