Wattpads official statement on the matter
"On January 19, 2021 Wattpad announced that its board has approved an agreement to be acquired by Naver, the owner of WEBTOON.
We are excited to align Wattpad, a leading social storytelling company, with WEBTOON, a leading digital comic publisher, under the same umbrella. Together, we will help more creators make money, bringing even more new, diverse voices to screens and bookstores everywhere. You may be already familiar with WEBTOON, as they sponsored the 2020 Watty Awards with us this year!
What does this mean for the website and app you have come to love? The Wattpad you know will largely feel the same over the coming months. In time, we will find more ways to connect our combined audience of 160 million people around the world — people who obsess over their favorite stories and creators and who have found a home with Wattpad and WEBTOON. We can’t wait to share more with you. Stay tuned!"
-Support.wattad