Washington, DC — LivingSocial, the DC-based operator of a daily deals service with more than 40 million subscribers in 21 countries, said it will acquire Ticket Monster, a popular social commerce site in South Korea. Financial terms of the deal, which is still subject to Korean regulatory approval, were not disclosed.
Founded in 2010, Ticket Monster offers daily and instant deals, travel packages and events to more than 2 million members in Korea and Malaysia.
“We believe that the benefits we bring to consumers can be extended to other markets in Asia and around the world,” said LivingSocial CEO Tim O’Shaughnessy. After closing, Ticket Monster’s 600 employees will become part of LivingSocial, which will operate in 23 countries.
This article was also published in Potomac Tech Wire.
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