Around the Net

Investment Firm Looking at Ticketing Company, Says Report

Goldman Sachs is considering acquiring shares of Ticket Monster, the country’s major social commerce company, reports said Friday. Principle Investment Area (PIA) of Goldman Sachs is considering an acquisition of Ticket Monster, according to Money Today. Currently, Ticket Monster is 100 percent owned by Groupon, the world’s largest social commerce company. Groupon wants to sell at least a 20 percent stake and is also considering handing over managerial control, selling over half of its stake. Ticket Monster started as a venture company by Shin Hyun-sung, who holds an MBA from the Wharton School of Business, and his colleagues in 2010. It became a huge success in its first year, and Shin sold the company to Living Social in 2011 for 400 billion won. However, amid growing concern over excessive marketing expenses in the social commerce industry, Living Social ended up selling the firm to Groupon for $260 million, or 290 billion won, in 2013.

advertisement

advertisement

Read the whole story at Korea Times »

Next story loading loading..