Starting position: 22 calls at $15 strike expiring 2/20 and 100 shares. Nothing crazy, but my entire portfolio is $15k (started with $3k, 6 months ago) and most of my money is in NVO or PYPL. Sold some NVO options to put money toward this.
Marketcap: $1.7B
**What they do**
Webtoon is the leader of webcomics, if you're a weeb, you've probably been on the site. They have 170 million monthly active users, people spend a shitton of time on this site. Creators upload their works on this site and get paid, and the site takes a cut from it. Manhwa like Tower of God and others were first published on Webtoon, and then it blew up in popularity, and got anime adaptions, which then turned it into a multi billion dollar franchise.
Point is, Webtoon has a monopoly on IPs for the future. Earlier this month, Disney finalized a deal for them to upload all of their comics on Webtoon's platform. Think about how popular Marvel is in the west, and then think about the mindset of a Disney executive, instead of trying to make a competing platform, they would rather sign an agreement with Webtoon and get a cut of the profits. This alone goes to show how deep their moat is, there's nobody even close to taking marketshare from their niche.
**Growth**
With $600M on cash, $0 debt, they've been spending a lot of money on advertising and developing partnerships. And it's paid off, Hollywood is working with Webtoon. Warner Bros announced a partnership with Webtoon, they're going to create 10 originals based off Webtoon uploads. More adaptations means more royalties, merch and visibility. The Disney deal as well was only recently finalized, the Marvel uploads are on the site NOW but only recently was uploaded. The industry is expected to grow 30% pear year and there's nobody in the industry with a moat as strong as Webtoon.
