#Asia Brief: Ticket Monster pockets $115m to keep up with Korea’s ecommerce boom

South Korean ecommerce startup Ticket Monster has pocketed US$115 million in funding, it announced today. The cash is from Simone Investment Managers and previous investors, reports TechCrunch.
This Ticket Monster doesn’t sell tickets and is not to be confused with the other Ticket Monster which does actually sell tickets. All clear? Good.
Ticket Monster, sometimes shortened to TMON, hit a US$1.5 billion valuation with its 2016 funding, but this latest injection is a downround that sees it plummet to US$1.2 billion. The startup will use the new funds to boost its grocery offerings in the Super Mart section, which opened in 2015. TMON itself launched in 2010.
TMON – previously acquired by LivingSocial and then Groupon, before being spun back out on its own in 2015 – is up against the better funded Coupang in Korea’s increasingly heated online shopping market.

from Startups – Tech in Asia http://ift.tt/2ovlAkW

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