Today, the South Korean firm Naver has confirmed that it will acquire 100% of the Spanish second-hand platform Wallapop for 604.5 billion won (435.2 million USD). I was surprised as even though I am Spanish and used this platform quite a lot in the past, I had no idea that it was a Korean company.
Seems that the reason behind this acquisition is that they want to expand their presence in the European market, and they think that buying Wallapop is a got way for achieving that. I really hope that this operation is good for Naver and can help them expand their business.
Source and more information. The Korea Times.
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Wowow what a surprise! 😆 I didn’t know that Naver is gonna take the ownership of Wallapop. I’m not sure if it’s good move, but I hope this brings good result in Wallapop. ☺️