Naver launches $43 million fund to seek content for Snow
SEOUL, South Korea — South Korean internet giant Naver Corp. has launched a $43 million fund with Japan’s Softbank to invest in content and technology startups.
The investment fund will scout for new technology and talent for Naver’s mobile services with global ambitions, the company said Monday.
Naver spun off its video communications app Snow into an independent unit in August, hoping that it could replicate the success of its Line messenger app.