Today Groupon announced that its purchase of the Korean ticket and ecommerce company Ticket Monster has closed. A document filed with the SEC states that on “January 2, 2014, the Company and Groupon Trailblazer completed its previously reported acquisition of LS Korea.” As the same filing notes, LS Korea, or LivingSocial Korea, was the holding company for Ticket Monster.
The purchase, worth $260 million, helps Groupon’s international expansion, and could assist it in bolstering its flagging revenue growth rates. In the most recent quarter, Groupon had revenue of $595.1 million, and earnings per share of $0.02.
Ticket Monster could quickly accelerate Groupon’s top line: The business had gross billings on an annual basis of $800 million at the time the acquisition was announced, and 4 million active customers.
As a company, Ticket Monster has seen quick revenue growth, elusive profits, and comes to Groupon with cash and equivalents of a mere $15.1 million…
View original post 233 more words