Ridi Secures 120 Billion KRW Investment... "Company Valued at 1.6 Trillion KRW"

[Asia Economy Reporter Seomideum] Content platform company Ridi announced on the 28th that it has signed an investment contract worth 120 billion KRW.

According to Ridi, this investment was led by the Singapore sovereign wealth fund, Government of Singapore Investment Corporation (GIC). Additionally, the Korea Development Bank, Nvestor, and Atinum Investment participated. Ridi was recognized with a corporate valuation of 1.6 trillion KRW, becoming the first domestic content platform startup to achieve unicorn status.

This investment marks Ridi's first overseas funding. GIC highly evaluated Ridi's solid position and experience in the content industry, as well as the growth potential of its global webtoon subscription service ‘Manta’. Existing investors, Korea Development Bank and Atinum Investment, also continue to participate in follow-up investments with confidence and expectations that Ridi will grow significantly into a global company riding the momentum of K-content.

Based on this investment, Ridi plans to focus on strengthening its global business competitiveness. Ridi intends not only to invest in original content but also to build a content value chain including web novels, webtoons, videos, and OSTs through its key IPs.

Baek Gisik, CEO of Ridi, said, “With this investment, Ridi’s accumulated competitiveness in the content business has been recognized, and we have secured an important partner for expanding our business globally beyond Korea. Going forward, we plan to concentrate all business capabilities to establish Ridi as a global content company.”

This content was produced with the assistance of AI translation services.