In September 2011, we purchased a company in Seoul, Korea called Ticket Monster. They have built a great business selling products in the Korean market.
Other companies thought this was an attractive business too and we received offers from interested parties who wanted to purchase Ticket Monster. Today we announced that we are selling the business. We wish our Ticket Monster family all the best for their continued success.
The sale is a good one. It allows LivingSocial to focus on our core business of providing you with the great deals and experiences that you love and providing merchants with a way to reach you with their fantastic offers.
It’s good news for all of us. We are well positioned for growth. Big changes are on the way as we work to bring you an even better LivingSocial.