Latest news with #NASD
Forbes
4 days ago
- Entertainment
- Forbes
Disney Brings Marvel, Star Wars, Alien And Other Fan Favorites To Webtoon
Disney (NYSE: DIS) is teaming up with digital storytelling platform Webtoon (NASD: WBTN) to bring some of its biggest stories to the vertically-scrolling mobile comics format favored by today's readers. According to a joint announcement by the two companies, Webtoon will offer titles including The Amazing Spider-Man, Avengers, Star Wars, Alien and Disney As Old as Time: A Twisted Tale on the platform, with more selections and original content coming soon. Under the deal unveiled today, Webtoon will feature around 100 comics from Marvel, Star Wars, 20th Century Studios (e.g. Alien) and Disney in a new section of the English-language app. Fans can sample a few free episodes, then unlock new chapters using Webtoon coins that are purchased on the site. Considering the small number of titles at launch, the costs of reformatting legacy content into vertical format at scale, and historical limitations to the size of the digital comics market in North America, it is unlikely this deal will make much tangible difference to either company's bottom line in the near future, but the alliance of two heavyweights occupying different quadrants of the comics and pop culture space does have symbolic and strategic value. Webtoon gets to add some of the world's most lucrative IP to its existing library of hundreds of thousands of original works that span the gamut from user-generated content to best-sellers like Lore Olympus and Tower of God, potentially helping it broaden its appeal in growth markets outside of northeast Asia. Webtoon reports about 150 million monthly active users worldwide for its serialized, vertically scrolling comics, optimized for quick reading on mobile phones. Its demographics skew younger and more female, with content that leans into fantasy, romance, horror, comedy and slice of life genres. Superheroes have been conspicuous in their absence. One imagines that will change when Marvel shows up in force. For Disney, the deal represents an opportunity to reach a new generation of digital comics fans on their platform of choice. Marvel Comics, the longtime market-share leader in sales of periodical comics, traditionally sells to older superhero fans who buy physical copies in comic shops or download entire issues on apps like Marvel Unlimited or Amazon's comiXology. So anything that promises to bring those audiences closer together could provide a shot in the arm for a comics publishing business in the grip of some external uncertainties. 'Our collaboration with Webtoon will allow us to expand our beloved franchise universes on a best-in-class digital platform,' said Daniel Fink, SVP, Head of Digital Innovation, Disney Consumer Products, in a prepared statement. 'We look forward to engaging with their dedicated, global user base while welcoming future fans to experience a redefined form of Disney storytelling that will have a lasting impact in the digital comics space.' According to today's announcement, the two companies will also produce original webcomic series from Disney, Marvel, 20th Century and Star Wars properties, presumably optimized for the format and storytelling style of the Webtoon platform. 'The Disney, Marvel, 20th Century and Star Wars brands are among the most legendary, creative and successful in the industry,' said Yongsoo Kim, Chief Strategy Officer and Head of Global Webtoon, quoted in the announcement. 'We're thrilled to kick off this collaboration with iconic series from their comic book catalog – and this is just the start! Together, we're brining this legendary storytelling to a new generation of mobile-native comic fans, while giving existing fans a new way to experience the series and characters they love.' Earlier this summer, ahead of the Disney partnership announcement, Kim was even more straightforward about Webtoon's ultimate vision for the industry. 'The vertical scroll format revolutionized digital comics,' he wrote in a 'prediction' for the future of digital comics. "Now that same innovation is being applied to traditional comics as publishers digitize and reformat their catalogues for digital distribution. Hard-to-find issues and content will be a thing of the past, as the entire history of comics is digitized. This will open up a new revenue stream to publishers' back catalogues and – even more exciting – introduce a younger, mobile-first audience to the incredible art and storytelling that have defined comics for generations." Both companies appear open to experimentation to grow the market. Webtoon has collaborated with Marvel in the past on projects like The Eternals: The 500-Year War and a series of webtoon adaptations in South Korea. The company has also partnered with DC Comics, Dark Horse, Archie, IDW and others on various series, including the popular Wayne Family Adventures (DC). Marvel recently announced a digital distribution deal with DSTLRY, a startup founded by Amazon ComiXology veterans, operating on a different revenue model from Webtoon. The announcement is the latest in a series of moves that Webtoon has undertaken since spinning off from its South Korean parent company Naver in an IPO last summer, to demonstrate continuing momentum in an industry that has contracted from pandemic-era highs. In the past year, the company has leaned hard into its role of generating new IP for media development, its back-end technology, its in-house production studio, and now the value of its vertically-scrolling interface as a new presentation format for legacy comics content. The Disney partnership announcement accompanied Webtoon's earnings report for Q2 (ending 6/30), which showed the company reporting $348.3M revenue, up 8.5% or 5.5% on a currency adjusted basis, and exceeding the top end of the guidance it gave investors earlier this year. Net losses narrowed to $3.9 million from $76.6 million the prior year, reflecting lower expenses. Shares were up sharply in after-hours trading immediately following the earnings report and the Disney announcement.
Business Wire
21-05-2025
- Business
- Business Wire
Jenna Lyons Joins Cashmere as Partner and Investor
NEW YORK--(BUSINESS WIRE)-- The Cashmere Fund (NASD: CSHMX), a next-generation venture fund making startup investing more accessible, announced today that Jenna Lyons, renowned fashion designer, entrepreneur, and television personality, has invested in the fund and partnered with the Fund's subadviser, Cashmere LLC (Cashmere). At the Cashmere Fund, Lyons will advise portfolio companies on branding, consumer positioning and creative strategy, while also helping the fund source new investment opportunities aligned with emerging cultural trends. 'Jenna's brand-building and value creation expertise are exactly what we look for—not only in our partners, but in the companies we invest in,' said Elia Infascelli, CEO of Cashmere. 'Her creative vision and entrepreneurial spirit will be invaluable as we continue to identify and support the next generation of consumer brands.' Ms. Lyons brings over three decades of creative leadership and brand-building expertise to Cashmere. She is best known for her transformative tenure at where she rose from assistant designer to President and Executive Creative Director. Since departing in 2017, Lyons has continued to innovate. She co-founded LoveSeen, a direct-to-consumer beauty brand offering natural-looking false eyelashes, inspired by her personal experience with the genetic condition incontinentia pigmenti. Additionally, she expanded her media presence through television projects like HBO Max's Stylish with Jenna Lyons and Bravo's The Real Housewives of New York City. Currently, Lyons is a partner at FundamentalCo, a value creation agency spun out of Blackstone. The firm has transformed household names like The New York Times, Clear, Delta, and Spanx, demonstrating how brand is more than just identity: it's a growth engine that drives value creation and market expansion. 'As a founder, I know how powerful the right support, at the right time, can be. And as a brand builder, I know what it takes to enter a market and catalyze opportunity,' said Lyons. 'I'm excited to back founders who are reimagining what's possible, and to help more people be part of their stories.' The Cashmere Fund is designed to expand private market opportunities to a broader range of investors, providing educational tools and resources to navigate the complexities of venture capital investing responsibly. The fund is preparing to launch on retail brokerage platforms, making it easier than ever for individuals to invest in startups. Lyons' partnership with Cashmere reflects the fund's broader ethos: investing in companies that shape how the next generation lives, works, and experiences the world. As outlined in its founding vision, The Cashmere Fund seeks to offer investors not just a stake in financial growth, but ownership in cultural change. In April 2025, NFL MVP Josh Allen joined The Cashmere Fund as a Partner and Investor, further strengthening the fund's network of influential leaders across industries. For more information, visit About The Cashmere Fund The Cashmere Fund (NASD: CSHMX), an evergreen interval fund, seeks to provide long-term capital appreciation through an actively managed portfolio of private, early-stage venture capital investments. The Fund's portfolio managers seek to leverage their networks of influence in the sports and entertainment industries to further compound and accelerate growth in the Fund's portfolio companies. Learn more about The Cashmere Fund at The Fund has a paid partnership with Jenna Lyons. Investors should consider the Cashmere Fund's investment objectives, risk, charges and expenses carefully before investing. The Fund's prospectus contains this and other information about the Fund, and is available at Investors should carefully review the prospectus before investing.
Yahoo
19-05-2025
- Business
- Yahoo
Pegasystems Set to Join S&P MidCap 400
NEW YORK, May 19, 2025 /PRNewswire/ -- Pegasystems Inc. (NASD: PEGA) will replace Nordstrom Inc. (NYSE: JWN) in the S&P MidCap 400 effective prior to the opening of trading on Thursday, May 22. The Nordstrom family and El Puerto de Liverpool S.A.B. de C.V. (BMV: LIVEPOL) are acquiring Nordstrom in a deal expected to be completed on May 20. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector May 22, 2025 S&P MidCap 400 Addition Pegasystems PEGA Information Technology May 22, 2025 S&P MidCap 400 Deletion Nordstrom JWN Consumer Discretionary For more information about S&P Dow Jones Indices, please visit ABOUT S&P DOW JONES INDICES S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets. S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit FOR MORE INFORMATION: S&P Dow Jones Indicesindex_services@ Media View original content: SOURCE S&P Dow Jones Indices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
19-05-2025
- Business
- Business Standard
Coinbase Global to become first crypto exchange to join S&P 500 index
The US-based cryptocurrency exchange, Coinbase Global, is all set to join Wall Street's benchmark S&P 500 Index today, Monday, May 19, 2025. This inclusion marks the first time a digital asset company will be included in the benchmark index. The S&P 500 is a market-capitalisation-weighted index that tracks 500 leading publicly traded companies in the US. With the inclusion, Coinbase will replace Discover Financial Services in the S&P 500. "Coinbase Global Inc. (NASD: COIN) will replace Discover Financial Services (NYSE: DFS) in the S&P 500 effective prior to the opening of trading on Monday, May 19," said S&P Global in a release. Notably, Capital One Financial Corp, which is also part of the S&P 500, is acquiring Discover Financial, with the deal expected to close soon, pending final conditions, said S&P Global. Founded in 2012, Coinbase Global is the largest US-based cryptocurrency exchange and the world's biggest Bitcoin custodian as of 2024. The company offers a platform that allows people and institutions to trade, stake, secure, spend, and transfer crypto assets globally. Additionally, Coinbase provides essential infrastructure for on-chain activity and supports builders who believe that on-chain is the new online. As of May 19, 2025, Coinbase has a market capitalisation of $67.87 billion. Ahead of its S&P 500 inclusion, Coinbase's shares rallied 9.01 per cent to settle at $266.46 per share on Friday, May 16, 2025. The company's shares have risen 7.3 per cent year-till-date.
Yahoo
12-05-2025
- Business
- Yahoo
Coinbase Global Set to Join S&P 500
NEW YORK, May 12, 2025 /PRNewswire/ -- Coinbase Global Inc. (NASD: COIN) will replace Discover Financial Services (NYSE: DFS) in the S&P 500 effective prior to the opening of trading on Monday, May 19. S&P 500 constituent Capital One Financial Corp. (NYSE: COF) is acquiring Discover Financial Services in a deal expected to be completed soon, pending final closing conditions. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector May 19, 2025 S&P 500 Addition Coinbase Global COIN Financials May 19, 2025 S&P 500 Deletion Discover Financial Services DFS Financials For more information about S&P Dow Jones Indices, please visit ABOUT S&P DOW JONES INDICES S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets. S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit FOR MORE INFORMATION: S&P Dow Jones Indicesindex_services@ Media View original content: SOURCE S&P Dow Jones Indices Sign in to access your portfolio
