The company operates a library of web novels and comics available in over 150 countries, allowing users to publish their own work on its platform. It connects 24 million creators with about 170 million monthly active users worldwide, and the medium has gained a reputation for producing content appealing to a broad audience.

Webtoons, the digital comic format used by Webtoon, have become one of South Korea's popular cultural exports, with examples such as Nevertheless (2021), My ID is Gangnam Beauty (2018), Weightlifting Fairy Kim Bok-joo (2016), and Cheese in the Trap (2016).

The company aims to raise up to $500 million through the IPO, with a potential valuation of $3 billion to $4 billion.

In 2023, Webtoon Entertainment had $1.282 billion in revenue, a net loss of $144.8 million, and an EBITDA of $11.7 million.

The underwriters for the IPO include Goldman Sachs, Morgan Stanley, JP Morgan, and Evercore.

CEO Kim Jun-koo aims to develop successful intellectual property franchises, and the contributions of fans, creators, and employees have been crucial to the company's achievements, marking a new beginning for Naver Webtoon.

Sources: Reuters, Bloomberg, Chosun, Korea Herald, Neowin, Lifestyle Asia, Yahoo Finance

This article was written in collaboration with Generative AI news company Alchemiq.

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Michael Netzer's own life is laden with drama: Born Mike Nasser to US-Lebanese Druze parents, he found in art a release from childhood polio, worked for franchises including Marvel and DC Comics, learned he had Jewish roots and moved to Israel, ending up in the settlement Ofra.

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Fluent in Arabic as well as English and Hebrew, Netzer, 63, paints portraits or superhero reproductions on commission to a clientele that he says includes Palestinians – an unusual interaction for a religious settler.

He also takes to the road every few weeks, sketching passersby of all stripes, for free.

"I have seen … it seems to me like 9 million heroes and villains in Israel. I see them all the time," he told Reuters in his attic studio in Ofra.

"It's like people are the most interesting thing that there is. And I look at the face and I see, you know, God looking back at me."

One of his subjects, Endy Jber, a 24-year-old conservative Muslim woman from the Israeli Arab village of Abu Ghosh, seemed to agree. After she sat for him on a Jerusalem pedestrian thoroughfare, she assessed the pencil sketch result and said: "He's amazing. He expresses his soul through the picture."

Netzer says he is no stranger to sectarian strife, having lived in post-1970s Lebanon. He acknowledges the tensions between Israelis and Palestinians, cresting again as US President Donald Trump weighs in on a long-stalled peacemaking initiative.

Trump himself has elements of a comics archetype, Netzer suggests. "He's fighting a war with China that could be seen as a just war. So there's something about him that's very heroic to the people who [back him]. On the other hand, look at how he's risen to be the antithesis of a hero, of a good guy, it seems."

Though he left his mark on the comics canon – claiming a 1981 strip he drew as the inspiration for a famous "Spider-Man" movie scene of the superhero kissing his girlfriend while inverted – Netzer does not seem to miss the commercial form.

In the 1980s, he created an Israeli comics superhero – "Uri-On" ("Virility Uri") – whose nemeses tend to be concocted villains rather than representations of Israel's real-life foes.

"I've become sensitive to the use of propaganda, my art being used to advance an idea that I may or may not be attached to," he said. "And this is probably one of the reasons that led me to slow down. … I try not to upset people."

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As a writer and editor, Lee was key to the rise of Marvel into a comic book titan in the 1960s when, in collaboration with artists such as Jack Kirby and Steve Ditko, he created superheroes who would enthrall generations of young readers.

Americans were familiar with superheroes before Lee, in part thanks to the 1938 launch of Superman by Detective Comics, the company that would become DC Comics, Marvel's archrival.

Lee was widely credited with adding a new layer of complexity and humanity to superheroes. His characters were not made of stone, even if they appeared to have been chiseled from granite. They had love and money worries and endured tragic flaws and feelings of insecurity.

"I felt it would be fun to learn a little about their private lives, about their personalities, and show that they are human as well as super," Lee told NPR News in 2010.

Lee had help in designing the superheroes but he took full ownership of promoting them.

His creations included the web-slinging teenager Spider-Man, the muscle-bound Hulk, mutant outsiders the X-Men, the close-knit Fantastic Four and playboy inventor Tony Stark, better known as Iron Man.

Dozens of Marvel Comics movies, with nearly all the major characters Lee created, have been p.roduced in the first decades of the 21st century, grossing over $20 billion at theaters worldwide, according to box office analysts.

Spider-Man, one of the most successfully licensed characters ever, has soared through the New York skyline as a giant inflatable in the Macy's Thanksgiving Day Parade.

As a hired hand at Marvel, Lee received limited payback on the windfall from his characters.

In a 1998 contract, he wrestled a clause for 10% of profits from movies and TV shows with Marvel characters. In 2002, months after Spider-Man conquered movie theaters, he sued to claim his share. In a legal settlement three years later, he received a $10 million one-time payment.

Hollywood studios have made superheroes the cornerstone of their strategy of producing fewer films and relying on big profits from blockbusters. Some people assumed that, as a result, Lee's wealth had soared. He disputed that.

"I don't have $200 million. I don't have $150 million. I don't have $100 million or anywhere near that," Lee told Playboy magazine in 2014. Having grown up in the Great Depression, Lee added that he was "happy enough to get a nice paycheck and be treated well."

In 2008, Lee was awarded the National Medal of Arts, the highest government award for creative artists.

Uncle's help

Lee was born Stanley Martin Lieber in New York on Dec. 28, 1922, the son of Jewish immigrants from Romania. At age 17, he became an errand boy at Timely Comics, the company that would evolve into Marvel. According to Lee's autobiography, "Excelsior," he got the job with help from an inside connection, his uncle.

Lee soon earned writing duties and promotions. He penned Western stories and romances, as well as superhero tales, and often wrote standing on the porch of home he shared in Long Island, New York, with his wife, actress Joan Lee, whom he married in 1947 and who died in 2017.

The couple had two children: Joan Celia, born in 1950, and Jan Lee, who died within three days of her birth in 1953.

In 1961, Lee's boss saw a rival publisher's success with caped crusaders and told Lee to dream up a superhero team.

At the time, Lee felt comics were a dead-end career. But his wife urged him to give it one more shot and create the complex characters he wanted to, even if it led to his firing.

The result was the Fantastic Four: the stretchable Mr. Fantastic, his future wife the Invisible Woman, her brother the Human Torch, and strongman The Thing. They were like a devoted but dysfunctional family.

"Stan's characters were always superheroes that had a certain amount of humanity about them or a flaw," said Shirrel Rhoades, a former executive vice president of Marvel and its publisher in the mid-1990s.

"As iconic as Superman may be, he's considered a boy scout. He doesn't have any real flaws. Whereas you take a Spider-Man, kids identify with him because he had his problems like they did. He suffered from great angst," Rhoades said.

Lee involved his artists in the process of creating the story and even the characters themselves, in what would come to be known as the "Marvel Method." This sometimes led critics to fault Lee for taking credit for ideas not entirely his own.

Speaking to Reuters, he described how he came up with his character Thor, the god of thunder borrowed from Norse mythology.

"I was trying to think of something that would be totally different," he said. "What could be bigger and even more powerful than the Hulk? And I figured, why not a legendary god?"

To give Thor more punch, Lee gave him dialogue styled after the Bible and Shakespeare.

Lee told interviewers that Tony Stark, or Iron Man, was based on industrialist Howard Hughes.

The Soapbox

Lee became Marvel's publisher in 1972. He went on the lecture circuit, moved to Los Angeles in 1980, and pursued opportunities for his characters in movies and television.

Through it all, he kept connected with fans, writing a column called "Stan's Soapbox" in which he often slipped in his catchphrase "'Nuff Said" or the sign-off "Excelsior!" In his later years, he gave constant updates via Twitter.

"Stan was a character. He was a character as much as any he ever created," Rhoades said. "He created himself, in a way."

He also made cameos in most Marvel films, pulling a girl away from falling debris in 2002's "Spider-Man" and serving as an emcee at a strip club in 2016's "Deadpool."

In 2009, the Walt Disney Company bought Marvel Entertainment for $4 billion in a deal to expand Disney's roster of characters, with the most iconic ones having been Lee's handiwork.

By that point, Lee had all but parted ways with Marvel after being made a chairman emeritus of the company. But even in his 80s and 90s, Lee was a wellspring of new projects, running a company called POW! Entertainment.

"His greatest legacy will be not only the co-creation of his characters but the way he helped to build the culture that comics have become, which is a pretty significant one," said Robert Thompson, a pop culture expert at Syracuse University.

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