Naver's annual revenue for 2016 was 4.02 trillion won. In 2016, Line Corporation was double listed on both NYSE and TSE. In August, Naver established its subsidiary SNOW. Naver also began Project Flower, a project which aims to support small businesses and creators by cooperating with them on various projects. In September, Naver and its affiliate Line announced that they would invest a combined 100 million euros (US$112 million) into K-Fund 1. K-Fund 1 is a European startup accelerator fund operated by Korelya Capital, which is an investment firm established by Fleur Pellerin, the former Korean-born French minister overlooking small and medium enterprises in the digital economy.