TappyToon (태피툰) is a Korean startup that brings the best new wave of comics and webtoons to the world. The company has recently received an undisclosed investment from BonAngels, an early-stage VC in Korea. The core tenet of its business is offering popular Korean Webtoon content to readers in English. The company monetizes by charging readership fees to users overseas and sharing revenue with original Korean writers.
Since starting the service in August last year, TappyToon has mostly targeted teenagers in North America, offering the Romance genre of webtoon. Some of the currently available webtoons on the platform include Bloody Sweet, Daughter of the Emperor and Flower Boys, totalling more than 30 most popular webtoons in Korea.
TappyToon has surpassed 100,000 downloads of Android apps in nine months after its release, and more than 90% of all users have been North American users, among whom more than 60% are recurring customers. In addition, monthly sales are growing at 20%, adding 3 to 5 new webtoons each month. The imminent launch of its iOS app and the enhancement of its web services are expected to further accelerate its user growth in the next few years.
“Despite the fact that strong demand has prompted many overseas sites such as Batoto and Mangafox to carry popular Korean webtoons since 2013, the lack of a legitimate platform that resulted in prevalence of illegal translation has been an ongoing problem” said Jack Kilyoun Kim, the lead investor at Bon Angels. “I have strong faith in TappyToon’s core team because each member excels in global marketing, translation, and localization, core capabilities necessary to provide killer content”.
“The North American digital market has been proven to accept paid model with more than 100 percent growth every year,” said Ernest Woo, chief product officer at TappyToon. Given Korean webtoon’s strong storytelling, full color and excellent mobile optimization, our platform is expected to produce new value in the standardized global comic market. Through this investment, I want to reach a wider audience.”
Inspired by Platum