RIDI Revenue, Valuation, Funding & Investors
RIDI is valued at $1.3B as of February 2022, a 8.3x multiple on its last reported $157M revenue.
Last RIDI valuation
$1.3B
Undisclosed stage · Feb 2022
Last RIDI funding round
$100M
Undisclosed stage · Feb 2022
RIDI revenue
$157M
Undisclosed stage · Feb 2022
Key investors in RIDI
Atinum Investment
Company K Partners
Korea Development Bank
Mirae Asset Venture Investment
Daesung Private Equity
Korea Investment Holdings
About RIDI
RIDI is a South Korean digital content platform often described as the country's Kindle, built around e-book retailer Ridibooks alongside Manta Comics, a subscription webtoon service, and Laftel, an animation streaming service. Founded in 2008, the Seoul-based company spans web novels, webtoons, video, and original soundtracks, competing with Naver and Kakao in Korea's webtoon and web novel markets. It has also pursued licensing deals to supply intellectual property to streaming platforms such as Netflix and Disney Plus.
Founded
2008
HQ
SeoulWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Subscription, Product sales
Revenue
$157M (Feb 2022)
Valuation
$1.3B (Feb 2022)
RIDI Valuation
RIDI is currently valued at $1.3B, based on its undisclosed-stage round in February 2022.
The $100M round was led by GIC, with participation from Korea Development Bank, Nvestor (Korea) and Atinum Investment.
RIDI's valuation has grown 6.2x from $211M at its Series D in December 2016 to $1.3B in February 2022, across 4 priced rounds.
RIDI valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Feb 2022 | Undisclosed stage | $1.3B | 8.3x |
| Mar 2020 | Series E | $452M | 4.4x |
| Oct 2019 | Series E | $465M | - |
| Dec 2016 | Series D | $211M | - |
RIDI Revenue
RIDI's latest recorded revenue is $157M, as of its undisclosed-stage round in February 2022. At a $1.3B valuation, that implies a 8.3x revenue multiple.
Revenue grew from $103M in March 2020 to $157M in February 2022, while the revenue multiple moved from 4.4x to 8.3x.
RIDI revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Feb 2022 | $157M | $1.3B | 8.3x | Undisclosed stage |
| Mar 2020 | $103M | $452M | 4.4x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
RIDI Funding History
RIDI has raised a total of $179M across 7 funding rounds.
RIDI's first fundraising round was a $3M Series B in April 2013. The most recent completed round was a $100M undisclosed-stage round in February 2022.
RIDI funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2022 | Undisclosed stage | GIC (lead); Korea Development Bank; Nvestor (Korea); Atinum Investment | $100M | $1.3B | RIDI Corporation is a South Korean digital content platform often referred to as the country's Kindle. The company operates multiple content businesses including Ridibooks (e-book retailer), Manta Comics (global subscription-based webtoon service launched in November 2020), Laftel (animation streaming service), and a broader intellectual property ecosystem spanning web novels, webtoons, videos, and original soundtracks. In February 2022, RIDI raised 120 billion Won (approximately $100 million USD) at a post-money valuation of 1.6 trillion Won ($1.3 billion USD), achieving unicorn status as the first Korean content platform to do so. The funding round was led by Singapore's GIC as the anchor investor and the company's first foreign shareholder, alongside domestic investors Korea Development Bank, Atinum Investment, and NVestor. The company stated it would deploy capital toward global expansion and original content development, with particular focus on providing intellectual property to over-the-top platforms such as Netflix and Disney Plus. RIDI's revenue grew 31% to 203.7 billion Won (approximately $157 million USD) in 2021, the fiscal year preceding the funding round. The company does not publicly disclose subscriber metrics or profitability status. The company had been seeking overseas investors to expand its global footprint and indicated plans to pursue an initial public offering later in 2022, though subsequent market conditions and profitability concerns have impacted that timeline. |
| May 2021 | Series A | We Ventures | $7M | - | - |
| Mar 2020 | Series E | Korea Development Bank (lead); Daesung Private Equity; Korea Investment Holdings; Company K Partners; Atinum Investment | $16M | $452M | RIDI Corp., a South Korean e-book and digital content platform often called the country's Kindle, raised 20 billion won from Korea Development Bank in March 2020 at a valuation near 550 billion won. This followed its Series E funding of 33 billion won in 2019 at the same valuation. Existing investors including Atinum Partners, Company K Partners, and Daesung Private Equity participated in prior rounds alongside Korea Investment Partners. The company launched its global webtoon service Manta Comics in November 2020, which saw over 300,000 downloads in its first three months in the US market. RIDI's full-year 2020 revenue reached 153.8 billion won, up 37% year-over-year, exceeding 100 billion won for the first time since inception in 2008. The firm achieved positive returns annually starting from a surplus in the first half of 2020. RIDI competed with giants like Naver and Kakao in the webtoon and web novel markets while positioning for global expansion and potential IPO, with investors anticipating valuation growth beyond 1 trillion won. |
| Oct 2019 | Series E | Atinum Investment (lead); Daesung Private Equity; Hana Financial Group; Korea Investment Holdings; Company K Partners | $28M | $465M | RIDI Corporation, founded in 2008, is South Korea's largest digital content publication and distribution company, specializing in e-books, web novels, webcomics, animation, articles, and news media. It operates platforms like Ridibooks and has expanded into global services such as Manta, a webcomics subscription service. RIDI employs 201-5000 people and maintains active operations from Seoul, with subsidiaries like Laftel. The company raised approximately $26.8 million in an October 2019 Series E round from investors including Atinum Investment (lead), Company K Partners, Daesung Private Equity, and Korea Investment Partners, as confirmed by multiple sources. RIDI's funding history includes 10 rounds totaling over $331 million by 2022, with key subsequent investments like a $16.33 million Series E - II in March 2020 and a major $99.77-$150.67 million Unattributed VC round in January-February 2022 valuing the company at $1-1.26 billion USD (KRW 1.6 trillion). The 2022 round, led by GIC with Atinum and others, marked RIDI as Korea's first content platform unicorn and funded global expansion, original content development, and strengthening its content value chain including webnovels, webcomics, videos, and OSTs. Atinum Investment has been a consistent backer since Series A in 2013. |
| Dec 2016 | Series D | Premier Partners; Praxis Capital Partners; Company K Partners; ShinHan Finance Investment | $17M | $211M | - |
| Nov 2014 | Series C | Shinhan Financial Group; Mirae Asset Venture Investment; Company K Partners; Atinum Investment | $8M | - | - |
| Apr 2013 | Series B | Mirae Asset Venture Investment; Atinum Investment | $3M | - | RIDI is a South Korean e-book company that has evolved into a content IP provider. Mirae Asset Venture Investment first invested in RIDI in November 2011 with a Series A round of 2.5 billion won. Atinum Investment participated in the Series B round in December 2012, raising 3 billion won, close to the approximate date of April 2013. Atinum later sold its stake due to fund expiry but reinvested larger in 2014, becoming RIDI's second-biggest shareholder with six total investments. Subsequent rounds include Series C in November 2014 for 8 billion won led by Shinhan Venture Investment and others, Series D in December 2016 for 20 billion won by Praxis Capital and others, and Series E in October 2019 for 30 billion won by Hana Ventures and others. |
Who has invested in RIDI?
14 investors have backed RIDI across its funding rounds, including Atinum Investment, Company K Partners, Korea Development Bank, Mirae Asset Venture Investment, Daesung Private Equity and Korea Investment Holdings.
Lead investors include GIC, Korea Development Bank and Atinum Investment.
RIDI Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Seoul | 5 | Lead | Apr 2013 | |
| Seoul | 4 | Participant | Nov 2014 | |
| Seoul | 2 | Participant | Oct 2019 | |
| Seoul | 2 | Lead | Mar 2020 | |
| Seongnam | 2 | Participant | Apr 2013 | |
| Seoul | 2 | Participant | Oct 2019 | |
 Singapore | 1 | Lead | Feb 2022 | |
| Seoul | 1 | Participant | Nov 2014 | |
| Seoul | 1 | Participant | Oct 2019 | |
| Seoul | 1 | Participant | Dec 2016 | |
| Seoul | 1 | Participant | Feb 2022 | |
| South Korea | 1 | Participant | May 2021 | |
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Start Free TrialAcquisitions by RIDI
RIDI has acquired 1 company to date.
Last acquisition by RIDI was on May 24th 2019. RIDI acquired Laftel for undisclosed valuation.
Latest Acquisitions by RIDI
| Description | Laftel is a Seoul-based streaming platform dedicated to anime content. It offers over 10,000 titles including movies, series, and exclusive Korean animations, available with subtitles in multiple languages. Users access simulcasts, offline downloads, and high-definition streams on web, mobile, and smart TV apps. Launched in 2016, the service holds licenses from major Japanese studios like Toei Animation and holds a leading position in the Korean otaku market. |
| HQ Country | |
| HQ City | Seoul |
| Deal Date | 24 May 2019 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all RIDI acquisitions and their M&A valuation multiples. Start Free Trial | |
RIDI Competitors
RIDI competitors include listed companies like Saregama India and Kadokawa, and private ones like Kuaikan Manhua, Substack, NewsBreak and Pocket FM.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Beijing | Private | $50M | - | $1.3B | 25.0x | |
 San Francisco, CA | Private | $50M | - | $1.1B | 22.0x | |
| San Francisco, CA | Private | - | - | $1.1B | - | |
 India | Publicly listed | $100M | $36M | $979M | 8.6x | |
| India | Private | $150M | - | $750M | 5.0x | |
 Japan | Publicly listed | $1.8B | $136M | $3.5B | 1.6x |
RIDI Public Comps
RIDI is still privately-owned, but its public comps include Alma Media, New Guomai Digital, Changjiang Publishing, Inmyshow Digital, SRMG, Webtoon, Trustpilot Group, Chinese Universe, FuboTV and iQIYI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $377M | $110M | 3.8x | 3.7x | 13.1x | 11.6x | |||
| $271M | $8M | 4.0x | - | 131.5x | - | |||
| $1.1B | $154M | 0.8x | - | 5.5x | - | |||
| $582M | $22M | 2.0x | 1.9x | 54.7x | - | |||
| $713M | ($10M) | 2.1x | 1.8x | (154.7x) | 29.4x | |||
| $1.4B | ($373M) | 0.6x | 0.6x | (2.4x) | 37.6x | |||
| $261M | $27M | 4.3x | 3.8x | 42.0x | 22.6x | |||
| $1.2B | $97M | - | - | - | - | |||
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Common questions about RIDI
| When was RIDI founded? | RIDI was founded in 2008. |
| Where is RIDI headquartered? | RIDI is headquartered in Seoul, South Korea. |
| Is RIDI publicly listed? | No, RIDI is a private, VC-backed company. |
| What is RIDI's valuation? | RIDI was last valued at $1.3B in its undisclosed-stage round in February 2022. |
| How much funding has RIDI raised? | RIDI has raised $179M across 7 funding rounds. |
| What was RIDI's last funding round? | RIDI's last funding round was a $100M undisclosed-stage round in February 2022, led by GIC. |
| Who are RIDI's investors? | RIDI's investors include Atinum Investment, Company K Partners, Daesung Private Equity, Korea Development Bank, Mirae Asset Venture Investment, Korea Investment Holdings, GIC, Shinhan Financial Group, Hana Financial Group, Premier Partners and 4 others. |
| What is RIDI's revenue? | RIDI's latest recorded revenue is $157M (February 2022). |
| What is RIDI's revenue multiple? | RIDI's latest valuation implies a 8.3x revenue multiple ($1.3B valuation on $157M of revenue). |
| Which companies are comparable to RIDI? | Companies comparable to RIDI include Kuaikan Manhua, Substack, NewsBreak, Saregama India, Pocket FM and Kadokawa. |
| How many companies has RIDI acquired? | RIDI has acquired 1 company, including Laftel. |
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