Kakao Entertainment to Shut Down Tapas Webtoon Platform in North America Five Years After $809.6 Million Acquisition

Kakao Entertainment is shutting down Tapas, the North American webtoon platform it acquired in 2021 as part of a roughly ₩1.1 trillion investment designed to establish a stronger foothold in the region. The decision comes five years after Kakao Entertainment purchased Tapas and Radish, signaling a significant retreat from its earlier strategy of directly operating digital storytelling platforms in North America. Kakao Entertainment is expected to send advance notices to publishers and rights holders regarding Tapas’ termination. The notices are…