LivingSocial Acquiring Korean Deal Company TicketMonster

Posted Aug 2, 2011

Daily deals website LivingSocial has announced an agreement to acquire TicketMonster Inc., which is a leading social commerce website in South Korea.

TicketMonster was founded in 2010 and offers daily/instant deals along with travel packages to over 2 million users in Korea and Malaysia.

“TicketMonster is one of Korea’s most recognized and trusted brands in the nascent daily deal industry, and we are excited to bring them into the LivingSocial family,” stated LivingSocial CEO and co-founder Tim O’Shaughnessy. “TicketMonster and LivingSocial share the same culture of innovation, customer focus and fun, and we believe that the benefits we bring to consumers can be extended to other markets in Asia and around the world.”

Once the acquisition is complete, LivingSocial will be available in 23 different countries. TicketMonster’s 600 employees will become part of the LivingSocial team.