Webtoon Entertainment's Nasdaq Debut Sees Strong Market Response

Shares of the popular online comics platform rise over 14% on first day of trading, valuing the company at $2.71 billion.

Webtoon Entertainment raised $315 million by pricing 15 million shares at $21 each.
The company's stock opened at $21.30 and reached as high as $24 during its first trading day.
Webtoon has 170 million monthly active users across more than 150 countries.
The platform offers a wide range of genres including fantasy, romance, and horror.
Webtoon is backed by South Korean tech giant Naver and includes popular apps like Line Manga and Wattpad.