Briefing Venture

The Briefing: Naver Buys Wattpad For $600M+, Trump Pardons Levandowski, And More

The Briefing

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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Naver acquires Wattpad for over $600M

Wattpad, an online social storytelling platform, announced that it will be acquired by South Korea’s Naver in a cash and stock transaction valued at over $600 million.

Following the deal’s completion, Toronto-based Wattpad will remain headquartered in Canada under the continued leadership of  its founders.

Founded in 2006, Wattpad previously raised $118 million in known venture funding, per Crunchbase data. The company says its global community reached 90 million people in 2020 — including more than 5 million writers

Other news

Trump pardons Levandowski: In the final hours of his presidential term, Donald Trump issued a pardon to former Google engineer Anthony Levandowski, who was sentenced for stealing a trade secret on self-driving cars before heading to Uber‘s rival unit.

Funding rounds

  • Neurent raises $25M Series B: Neurent Medical, an Irish startup developing treatments for chronic inflammatory sino-nasal diseases, announced it has closed a $25 million Series B financing led by new investor LSP.
  • Tamara inks $6M for BNPL platform: Saudi Arabia-based Tamara, a fintech company focused on “buy now, pay later,” closed on a $6 million seed round led by Impact46.

New fund

Blue Horizon closes first fund: Zurich-based Blue Horizon Ventures, a sustainable food system-focused venture capital fund, announced it has raised 183 million euros ($221.6 million) to close its first flagship fund, Blue Horizon Ventures I. The fund is backed by more than 100 investors including the European Investment Fund. Blue Horizon invests in startups making a positive global impact on the environment, human health and animal welfare, with a main focus on alternative proteins, synthetic biology, cultivated food, smart packaging and food waste. The firm has made 16 investments since being founded in 2018, most recently leading Netherlands-based Mosa Meat‘s Series B in December, according to Crunchbase data.

Illustration: Dom Guzman

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