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PE consortium closes in on Korea's Ticket Monster - report

  • Holden Mann
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A group of private equity investors including KKR is set to buy Korean e-commerce mobile app Ticket Monster from US-based Groupon in a deal that could value the company as highly as $800 million.

The PE consortium, which is seeking a 59% stake in the company, also includes Anchor Equity Partners and members of Ticket Monster's management team, according to the Wall Street Journal. The deal could be completed in the next few days.

Groupon bought Ticket Monster in 2013 for $260 million from US-based LivingSocial, which acquired it in 2011. Ticket Monster founder Jason Shin is one of those involved in the takeover consortium.

Founded in 2010, Ticket Monster sells a variety of discounted consumer goods through its mobile app, along with providing other services such as booking plane tickets. Currently the company is planning to expand its service outside of Korea. It will use additional funds provided by the private equity partners to do so.

Ticket Monster is the latest Korean mobile e-commerce startup to attract PE investment. In December BlackRock led a $300 million round for Coupang, the country's largest online retailer. Coupang, like Ticket Monster, focuses heavily on the mobile app experience.

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