The Korean social commerce market just got a bit more interesting with LivingSocial‘s acquisition of Ticket Monster. Groupon had entered the Korean market earlier this year and quickly gained market share to become part of the “big 4” of Korean social commerce sites along with Ticket Monster, Coupang and WeMakePrice.
A LivingSocial acquisition of Ticket Monster has been rumored for weeks but the companies have denied these rumors until now.
While Groupon decided to take on the Korean market by starting its own operations, LivingSocial is taking a different approach by acquiring the local market leader. In less than a year and a half, hundreds of social commerce sites have sprung up but the “big 4” have clearly risen to the top. With its acquisition of Ticket Monster, LivingSocial has jumped into the fray and is now one of the social commerce market leaders in Korea.