Tapas Media Acquisition, Valuation, Funding & Investors

Tapas Media was acquired by Kakao Entertainment for $510M in May 2021.

Tapas Media acquisition price

$510M

Acquired by Kakao Entertainment · 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

Tapas Media Overview

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

United StatesSan Francisco, CA

Website

tapas.io

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.

Tapas Media acquisition details
AcquirerDateTypePrice
10 May 2021Strategic 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

Tapas Media funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2019Series BHana Ventures; Korea Investment Partners$7M-
Aug 2017Series AMedici Investment; Strong Ventures; ID ventures; E&Investment; SBI Investment KOREA$5MTapas 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 2016Series ARoger Bamford; Podotree$1M-
Jul 2015Series AEast Gate Capital Management$1M-
Jan 2014Series AKakao; Daum Communications$2M-
Aug 2013SeedAdam 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

Investors in Tapas Media by funding rounds participated
InvestorHQRoundsRoleFirst check
Strong VenturesUnited StatesLos Angeles, CA2ParticipantAug 2013
Medici InvestmentSouth KoreaSeoul1ParticipantAug 2017
Adam D’AngeloUnited StatesSan Francisco, CA1ParticipantAug 2013
Hana VenturesSouth KoreaSeoul1ParticipantJun 2019
KakaoSouth KoreaSeoul1ParticipantJan 2014
ID venturesUnited StatesDetroit, MI1ParticipantAug 2017
Korea Investment PartnersSouth KoreaSeoul1ParticipantJun 2019
E&InvestmentSouth KoreaSeoul1ParticipantAug 2017
East Gate Capital ManagementUnited StatesSan Francisco, CA1ParticipantJul 2015
Roger BamfordUnited StatesSan Francisco, CA1ParticipantJul 2016
Daum CommunicationsSouth KoreaSeoul1ParticipantJan 2014
500 GlobalUnited StatesSan Francisco, CA1ParticipantAug 2013

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Tapas Media Competitors

Tapas Media competitors include listed companies like Saregama India and WildBrain, and private ones like Barça Vision, Caffeine, BandLab and Inkitt.

Public and private companies comparable to Tapas Media
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Barça VisionSpainBarcelonaPrivate--$468M-
CaffeineUnited StatesSan Francisco, CAPrivate--$600M-
BandLabSingaporeSingaporePrivate--$425M-
InkittUnited StatesSan Francisco, CAPrivate$38M-$400M10.5x
Saregama IndiaIndiaIndiaPublicly listed$100M$36M$979M8.6x
WildBrainCanadaCanadaPublicly listed$375M$26M$245M1.0x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
AMC Global Media$2.3B$1.2B0.8x0.8x1.5x4.4x
MD Entertainment$28M($4M)17.7x-(138.5x)-
Zhejiang Talent TV & Film$17M($52M)29.2x-(9.5x)-
NRJ Group$390M$74M0.3x0.3x1.6x1.7x
GREE Holdings$367M$25M0.1x0.1x1.9x-
HUYA$970M($27M)0.1x0.1x(4.2x)11.3x
StudioDragon$386M$105M1.2x1.1x4.4x3.5x
CJ ENM$3.7B$1.1B0.6x0.7x2.2x2.6x

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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.

See companies similar to Tapas Media

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