Ticket Monster (TMON), a South Korean mobile commerce company, received a US$40m (KRW 47.5 billion) investment from NHN Entertainment (NHNE), Korea’s gaming and entertainment provider.
The investment valued TMON at US$1.5 billion.
The partnership will leverage the companies’ synergies and expertise across core business areas that include mobile shopping, and payment and online transaction solutions.
The two companies also signed an MOU to form a strategic partnership in which NHNE will actively promote its convenience payment solution PAYCO via TMON. They will also research new ways to further innovate how technology and data can be applied to the entire shopping process, from placing an order to payment and shipping.
Founded in 2010 and led by CEO Daniel Shin, Ticket Monster is an e-commerce company operating in Goods, Local and Travel verticals and offering over 100,000 SKUs through partnerships with approximately 91,000 merchants.
Backed by KKR and Anchor Equity Partners, the company has expanded its business after the management and their investment partners acquired a controlling stake from Groupon in April 2015.
FinSMEs
11/04/2016