Kakao has agreed to acquire portfolio companies Tapas, for $510m, and Radish, for $440m, as it looks to strengthen its recently merged entertainment subsidiary.
Kakao Entertainment, an entertainment subsidiary of internet group Kakao, has agreed to buy US-based short-form fiction platform developers Radish and Tapas Media for a combined $950m, allowing several corporate investors to exit.
The company will purchase Tapas for about $510m, while Radish will be acquired in a transaction sized at $440m. The deals follow the January 2021 merger of two Kakao subsidiaries: online content marketplace Kakao Page and record label and talent agency Kakao M.
Founded in 2012, Tapas operates…
