Groupon, Ticket Monster Work Together to Become Korea’s Amazon

Ticket Monster and Groupon held a press conference at the COEX Convention Center in Samsung-dong, Seoul on November 12 to speak about their merger and future business strategies. 

“Not focusing on short-term profits, we opted for Groupon as our partner because it has the resources to help our sustainable growth,” said Ticket Monster CEO Shin Hyeon-seong. He added, “In Groupon, 1,305 developers are working on various e-commerce technologies in the fields of big data, personalization technology, reservation systems, logistics processes, and the like, and I believe that these will be a boon to our growth in the Korean market.”

Groupon CEO Eric Lefkofsky agreed by saying that he will help Ticket Monster distinguish itself in not only the Korean but also Asian market. “We are going to minimize our interference in the business of Ticket Monster while making aggressive investment,” he remarked, continuing, “We are planning to work on how to run the merged company from now on and expect that specific details will be available sooner or later.”