Naver Webtoon-founded 'Playlist' Secures 25 Billion KRW Investment

Published 12 Mar.2021 10:30(KST)

[Asia Economy Reporter Buaeri] Comprehensive content studio Playlist has secured an investment of 25 billion KRW from venture capital (VC) IMM Investment and others.

According to Playlist on the 12th, this investment is a Series B round led by IMM Investment, with participation from Gorilla Pi- Encore Ventures, Premier Partners, Timewise Investment, Mirae Asset Capital, and others. The VCs will be allocated redeemable convertible preferred shares through a paid-in capital increase.

Playlist was established in 2017 as a joint investment by Naver Webtoon, a subsidiary of Naver, and Snow.

Previously, Playlist raised 5.3 billion KRW in a Series A investment solely from Altos Ventures in 2019. In September 2020, it conducted a 6 billion KRW paid-in capital increase targeting existing investors Naver Webtoon, Snow, and Altos Ventures.

Playlist plans to strengthen IP (intellectual property) investment and focus on creator development. They intend to actively utilize not only original IP development but also various original IPs such as webtoons and web novels.

Park Taewon, CEO of Playlist, said, "We will produce more interesting and entertaining diverse content to achieve channel diversification and lead popular culture not only domestically but globally as a comprehensive content studio."