The world has been talking about Kakao Entertainment's recent acquisition of an English webtoon company called "Tapas," with the acclaim of its CEO, Chang Kim. Kakao Corporation is expanding its media and entertainment division "Kakao Entertainment," which follows a $950 million acquisition of two US-based webtoon/comic startups.
As part of the expansion, Kakao Entertainment has acquired two webcomic and webtoon companies including Tapas and Radish, which has been prominent for its South Korean media widely received by the public. This deal is a whopping $950 million acquisition for Kakao Entertainment, to go against the Swedish music streaming app, Spotify.
Chang Kim, Tapas CEO
Behind a massive company bought for roughly half a million dollars (USD), is a successful and well-known CEO who was also the founder of Tapas Entertainment, Chang Kim or Kim Chang-won. He was mostly based in the United States throughout his career, particularly when he started Tapas Media, a.k.a. Panda Comics, in 2012, to deliver entertainment in the form of Korean webcomics.
Who is He?
Chang Kim is a South Korean native which is based in North America, mainly because of his work and company, Tapas. He began outlining "Tapas Media" back in 2008, before pushing through with the project and securing one of the world's largest webcomic companies that centered on multilingual content.
According to MNews's interview with the CEO, there was not much of a close relationship between Tapas and Kakao, but a visit from KAKAO Corporation's executives last year on Tapas' studio and office has made way to the company's acquisition.
The CEO started his education at Seoul National University in 1994, before continuing his studies in the United States, particularly at the University of Michigan from 1994 to 1997 with a BS Physics degree.
Chang Kim: Tapas Rivals
Tapas has been long-time rivals with Naver Corporations, a South Korean online content media, also considered to be Kakao Entertainment's number one competitor. While Tapas, Radish, and Kakao would have a stronger platform, Chang Kim believes that it would be another wall to stand up.
Chang Kim, Tapas Net Worth
According to Tapas' Forum, users spend $50,000 to $70,000 per day on the platform, which amounts to millions monthly. Last year, it has paid $14 million to its creators, which suggests that it is a multi-million dollar company before Kakao Entertainment had its hands on it.
Would Chang Kim remain as CEO or Board Member After Kakao Acquisition?
The direction of Tapas has always been through the leadership of Chang Kim, its CEO, and with the recent acquisition of Kakao Entertainment, this is the question people have. While it is not clear if Tapas and Radish will retain its board, it would be under Kakao's leadership, but the influence of Kim Chang on Tapas will most likely leave him with the CEO position to manage the company.
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Written by Isaiah Richard
