LivingSocial buys Korea’s TicketMonster

Aug 3, 2011 • Toby Lewis

The Amazon-backed daily deals site acquires TicketMonster a month after LivingSocial reportedly appointed banks for a flotation.

Amazon-backed daily deals company LivingSocial has bought Korean rival TicketMonster. Terms were undisclosed, however news provider FT Tilt said analyst estimates before the deal had placed TicketMonsters’s value at KRW300bn ($286m).

TicketMonster was founded in 2010 and has more than 2 million members in Korea and Malaysia.

In July LivingSocial reportedly appointed US-based banks Bank of America Merrill Lynch, JP Morgan Chase and Germany-based Deutsche Bank as the lead underwriters in a potential flotation, according to news provider the Wall…

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