Naver Zepeto Secures 12 Billion KRW Investment from Big Hit and YG
[Asia Economy Reporter Buaeri] Naver Z, the provider of the global augmented reality (AR) avatar service 'Zepeto,' announced on the 12th that it has secured an investment worth 12 billion KRW from Big Hit Entertainment and YG Entertainment.
Through this investment, Naver Z will acquire a broader range of content spanning from fashion to entertainment.
The three companies plan to create greater value in the global market through close and extensive collaboration between their respective global intellectual properties (IP) and the global AR avatar service Zepeto.
Since its spin-off last May, Zepeto has continuously expanded collaborations with global IP holders such as Nike and Disney, providing users with diverse content. As of August, the global subscriber base surpassed 180 million. Additionally, over 900 million secondary contents created by users utilizing various IPs within Zepeto have been produced.
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Kim Daewook, CEO of Naver Z, stated, "Users are very active in creating secondary content using the various IPs provided within Zepeto, so we highly anticipate synergy with both companies. Moving forward, we will continue to expand our network with global IP holders to enrich Zepeto's unique infinite virtual world even further."
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