Synergy Effect
Ticket Monster, a South Korean mobile commerce company, announced on Apr. 11 that it has attracted investment worth US$4 million (47.5 billion won) from the nation’s leading game software company NHN Entertainment Corp.
As the company won back its control from Groupon Inc. through a consortium led by global investment firm Kohlberg Kravis Roberts & Co. (KKR) and Anchor Equity Partners in Apr. last year, it has carried out an aggressive growth strategy from the second half of the year.
With the latest investment, Ticket Monster and NHN Entertainment expect to have a quick and practical synergy effect by closely cooperating in their core businesses, such as mobile platform based-shopping and payment, and e-commerce solution.
In addition to the financial investment contract, the two companies also signed a memorandum of understanding (MOU) for a strategic partnership. Accordingly, NHN Entertainment will actively promote its convenience payment solution PAYCO via Ticket Monster.