Groupon sells 46% of Korean Ticket Monster to KKR for $ 360 million

Groupon sold a 46% stake in the Korean platform for selling Ticket Monster tickets for $ 360 million. The entire service was estimated at $ 782 million. Groupon will remain the holder of a minority stake of 41% of the shares, which the company acquired in November 2013 for $ 260 million.

The sale of the shares to the consortium, which includes Anchor Equity Partners, KKR and TMON, is scheduled for completion in the second quarter of 2015. The parties are awaiting approval by the Korean Trade Commission.

Groupon sells Ticket Monster to focus on developing its single platform in the United States and Europe. The head of the company noted that Groupon is looking forward to the success of TMON in the Korean market as a new shareholder of the service. The same strategy according to Techcrunch adheres to Groupon in India - the company has sold a stake of $ 20 million in local business.

Ticket Monster - a platform for the sale of goods and travel packages. It focuses on the mobile business - the application has been downloaded over 9 million times, 70% of its revenue comes from mobile devices.
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The sale of the service will allow Groupon to improve the report for the first quarter of 2015, which the company will present on May 5. Groupon expects revenue of $ 720-770 million.