(Yicai Global) June 9 -- Kuaikan Manhua, China’s biggest manga platform, has secured a KRW100 billion (USD90 million) investment from South Korean app store operator One Store, tech media outlet 36Kr reported today.
The Beijing-based company had raised nearly CNY2.5 billion (USD391.4 million) prior to its latest financing round. Set up in Beijing in December 2014, Kuaikan banked USD125 million from Tencent Investment in August 2014.
One Store is a joint venture between South Korea’s big-three telecoms carriers SK Telecom, KT and LG Uplus, and the country’s internet giant Naver.
As of July 2019, the Kuaikan Manhua app had over 200 million users and more than 40 million monthly active users, giving it a more than half of China’s manga market, according to its website. The platform has over 5,000 contract authors, more than 8,000 works, and in excess of 200 content provider partners.
Editor: Tom Litting