LivingSocial Acquires TicketMonster with $143 Million

Oct 11, 2011

LivingSocial issued $142.9 million in shares to acquire South Korean daily deals provider, TicketMonster, Inc. While the sale was announced as part of a business combination, whether this means a merger, an acquisition, or an exchange offer has not yet been clarified.

TicketMonster makes the fifth daily deal site that LivingSocial has acquired in the past year, following sites in Europe, Dubai, and Thailand. The acquisition of TicketMonster is expected to add two million users and roughly $24 million in revenue a month, accoding to DailyDealMedia .

TicketMonster was founded in 2010 and is based out of Seoul, South Korea.