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- Tapas Media
Tapas Media Acquisition, Valuation, Funding & Investors
Tapas Media was acquired by Kakao Entertainment for $510M in May 2021.
Cumulative funding Tapas Media raised
$17M
across 6 funding rounds
Key investors in Tapas Media
Strong Ventures
500 Global
Korea Investment Partners
Hana Ventures
SBI Investment KOREA
ID ventures
Adam D’Angelo
Medici Investment
About Tapas Media
Tapas Media is a San Francisco-based digital publishing platform launched in 2015 hosting webcomics and novels from 50,000 creators. The service reaches 2 million monthly readers spending 70 million minutes on serialized content, with 5 billion total reads. Primarily attracting female millennials in the US, Tapas co-produces IPs for TV adaptations and distributes via iOS/Android apps ranking top in comics categories.
Founded
2012
HQ
Website
Status
Acquired
Customer focus
B2C
Revenue model
Advertising
Valuation
$510M (acquired May 2021)
Tapas Media Acquisition
Tapas Media was acquired by Kakao Entertainment for $510M on 10 May 2021.
Before the acquisition Tapas Media had raised $17M across 6 funding rounds.
Tapas Media is a U.S.-based pioneer in mobile storytelling platforms, specializing in webtoons and digital comics, founded in 2012 by Chang Kim. Kakao Entertainment, a Korean operator of mobile content platforms, acquired 100% of Tapas Media in a deal announced around May 2021, valued at an estimated $510 million, to expand its original content business into North America and English-speaking regions. The acquisition built on Kakao's prior stakeholder position in Tapas, which had distributed Kakao's webtoons like A Business Proposal and The Uncanny Counter, driving significant sales growth. Chang Kim retained management autonomy and became a Global Strategy Officer at Kakao Entertainment. The deal was part of Kakao's broader strategy, including a simultaneous acquisition of Radish Media for $440 million, aiming to strengthen global webtoons and web novels. Post-acquisition, Tapas shifted focus in 2022 to user-generated content and Asian-popular titles amid operational changes, and by 2025, both Tapas and Radish were reported in liquidation as Kakao shed loss-making units.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 10 May 2021 | Strategic M&A | $510M |
Tapas Media Funding History
Tapas Media has raised a total of $17M across 6 funding rounds.
Tapas Media's first fundraising round was a $700K seed round in August 2013. The most recent completed round was a $7M Series B in June 2019.
Tapas Media funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2019 | Series B | Hana Ventures; Korea Investment Partners | $7M | - |
| Aug 2017 | Series A | Medici Investment; Strong Ventures; ID ventures; E&Investment; SBI Investment KOREA | $5M | Tapas Media is a mobile comics and webtoons platform founded in 2013, headquartered in San Francisco and Seoul, offering bite-sized digital content to creators and readers. The platform monetizes through micropayments, with readers typically able to access the first chapters free before paying to continue, alongside ad revenue sharing with creators (70% to creators, 30% to Tapas on ad revenue). By early 2018, Tapas had grown to over 32,000 creators who published more than 48,000 titles, reaching 2.1 million monthly visitors and generating meaningful creator earnings, with some creators earning approximately $2,000 monthly from premium content. In March 2018, the company raised $5 million in Series A funding from ID Ventures, SBI Investment Korea, Medici Investment, and EN Investment, bringing total funding to $10.8 million at that time. The platform had established partnerships with major publishers including Hachette Book Group and distribution deals with tech giants Tencent and Kakao, positioning itself as a key player in the North American English-language webtoons market ahead of its later acquisition by Kakao Entertainment in 2021 for a reported $150 million valuation. |
| Jul 2016 | Series A | Roger Bamford; Podotree | $1M | - |
| Jul 2015 | Series A | East Gate Capital Management | $1M | - |
| Jan 2014 | Series A | Kakao; Daum Communications | $2M | - |
| Aug 2013 | Seed | Adam D’Angelo; Strong Ventures; 500 Global | $700K | - |
Who has invested in Tapas Media?
14 investors have backed Tapas Media across its funding rounds, including Strong Ventures, 500 Global, Korea Investment Partners, Hana Ventures, SBI Investment KOREA and ID ventures.
Tapas Media Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Aug 2013 | ||
| 1 | Participant | Aug 2017 | ||
| 1 | Participant | Aug 2013 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Participant | Jan 2014 | ||
| 1 | Participant | Aug 2017 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Participant | Aug 2017 | ||
| 1 | Participant | Jul 2015 | ||
| 1 | Participant | Jul 2016 | ||
| 1 | Participant | Jan 2014 | ||
| 1 | Participant | Aug 2013 | ||
This data is available for Pro users. Sign up to see all 14 Tapas Media investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialTapas Media Competitors
Tapas Media competitors include listed companies like Saregama India and WildBrain, and private ones like Barça Vision, Caffeine, BandLab and Inkitt.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $468M | - | ||
| Private | - | - | $600M | - | ||
| Private | - | - | $425M | - | ||
| Private | $38M | - | $400M | 10.5x | ||
| Publicly listed | $100M | $36M | $979M | 8.6x | ||
| Publicly listed | $375M | $26M | $245M | 1.0x |
Tapas Media Public Comps
Tapas Media is no longer listed, but its public comps include AMC Global Media, MD Entertainment, Zhejiang Talent TV & Film, NRJ Group, GREE Holdings, HUYA, StudioDragon, CJ ENM, WILD BUNCH and Bemobi.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.3B | $1.2B | 0.8x | 0.8x | 1.5x | 4.4x | |||
| $28M | ($4M) | 17.7x | - | (138.5x) | - | |||
| $17M | ($52M) | 29.2x | - | (9.5x) | - | |||
| $390M | $74M | 0.3x | 0.3x | 1.6x | 1.7x | |||
| $367M | $25M | 0.1x | 0.1x | 1.9x | - | |||
| $970M | ($27M) | 0.1x | 0.1x | (4.2x) | 11.3x | |||
| $386M | $105M | 1.2x | 1.1x | 4.4x | 3.5x | |||
| $3.7B | $1.1B | 0.6x | 0.7x | 2.2x | 2.6x | |||
This data is available for Pro users. Sign up to see all Tapas Media competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Tapas Media
| When was Tapas Media founded? | Tapas Media was founded in 2012. |
| Where is Tapas Media headquartered? | Tapas Media is headquartered in San Francisco, CA, United States. |
| Is Tapas Media publicly listed? | No, Tapas Media was acquired by Kakao Entertainment in May 2021. |
| Who acquired Tapas Media? | Tapas Media was acquired by Kakao Entertainment in May 2021. |
| How much was Tapas Media acquired for? | Tapas Media was acquired for $510M in May 2021. |
| How much funding has Tapas Media raised? | Tapas Media has raised $17M across 6 funding rounds. |
| What was Tapas Media's last funding round? | Tapas Media's last funding round was a $7M Series B in June 2019. |
| Who are Tapas Media's investors? | Tapas Media's investors include Strong Ventures, Medici Investment, Adam D’Angelo, Hana Ventures, Kakao, ID ventures, Korea Investment Partners, E&Investment, East Gate Capital Management, Roger Bamford and 4 others. |
| Which companies are comparable to Tapas Media? | Companies comparable to Tapas Media include Barça Vision, Caffeine, BandLab, Inkitt, Saregama India and WildBrain. |
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