LivingSocial Buys Ticket Monster Expanding Further into the Asian Market
When LivingSocial’s purchase of Ticket Monster is sanctioned, the social shopping platform will be operating in 23 countries. LivingSocial is in part owned by Amazon and already has a foothold in Asia. In June the company purchased Ensogo and DealKeren, creating a strong presence in Thailand, Indonesia, and the Philippines.
LivingSocial is definitely expanding into the lucrative Asian market. The social shopping platform demonstrated its desire by buying Ticket Monster. The purchase is considered one of the biggest acquisitions for LivingSocial so far and is the ninth company it has purchased.
Ticket Monster was founded in 2010 and is the largest provider of daily deals in South Korea. Its founder David H. Shin, who is 25, helped establish the social commerce boom in Korea. Ticket Monster has almost 600 staffers, 5,000 merchant partners, and 970,000 visitors daily with 2 million members.
The company offers a deal-a-day in local cities and includes discounts from top restaurants, clothing stores, spas and other retailers.
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