Groupon acquires online flash fashion retailer ideeli for $43 million

grouponGroupon has acquired ideeli, an online flash fashion retailer for $43 million in cash.

Ideeli provides its  of members with access to leading brands in women’s and men’s apparel and accessories and home decor at discount prices. Founded in 2007 and based in New York, ideeli is one of the largest independent fashion flash sites.

“We are thrilled to add ideeli and their team to our company,” said Groupon CEO Eric Lefkofsky. “Ideeli extends our fashion presence and brings great relationships with many of the top brands in apparel. Our customers have a ideeli[1]demonstrated appetite for these offers, and by broadening our reach in this space Groupon is even better positioned as the place you start when you want to do or buy just about anything, anytime, anywhere.”

Ideeli will maintain its headquarters in New York and will continue to operate as a separate website.

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Groupon completes the acquisition of Ticket Monster

grouponGroupon has completed the acquisition of Ticket Monster from LivingSocial, a  Korean ecommerce company, for $260 million in cash and stock. The final allocation paid to LivingSocial, Inc. was $100 million in cash and $160 million in Groupon Class A common stock, subject to registration rights.

As previously reported, Groupon has acquired LivingSocial Korea, Inc., the holding company that owns Ticket Monster. LivingSocial Korea’s Malaysian subsidiary was divested prior to close and is not part of this transaction.

For the nine months ended September 30, 2013, LivingSocial Korea, Inc., excluding its Malaysiantmon subsidiary, had gross billings of $572.7 million, revenue of $78.5 million, an operating loss of $38.7 million, and Adjusted EBITDA of $0.7 million.

See previous Fusion DigiNet reporting.

The Ticket Monster brand and leadership team will remain in place and continue to be led by Daniel Shin, CEO of Ticket Monster. The company will maintain its headquarters in Seoul, where it employs approximately 1,000 employees.

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Groupon buys Ticket Monster from LivingSocial for $260 Million

grouponGroupon is to acquire Korean-based Ticket Monster from LivingSocial for $260 million in cash and stock. The deal is expected to close in the first half of 2014.

“Ticket Monster is a perfect fit for Groupon as we continue to transition our business globally from a flash sale email model to a mobile commerce marketplace,” said Groupon CEO Eric Lefkofsky. tmon

“Ticket Monster has a vibrant and growing marketplace in one of the world’s largest ecommerce markets. Coupled with outstanding mobile penetration and expertise in local, travel, and product, they will help us accelerate our overall growth, provide immediate scale and serve as a cornerstone for our operations in Asia.”

Ticket Monster — known locally as TMON — was founded in 2010 and has quickly grown into a leading provider of product, local and travel offers in Korea. TMON has consistently seen year-over-year billings growth in excess of 50 percent, with annual billings of more than $800 million today. The business is said to be close to break-even on an EBITDA basis.

Approximately half of its sales are transacted on mobile devices. Based in Seoul, the company has grown to 1,000 employees serving more than 4 million active customers.

The Ticket Monster brand and leadership team will remain in place. Groupon and TMON will work on an operational plan for the two local entities once the deal has closed.

Per the terms of the agreement, Groupon will acquire LivingSocial Korea — the holding company that owns Ticket Monster. Any non-Korean assets currently owned by LivingSocial Korea will be divested prior to close. The agreement is for at least $100 million in cash, and up to $160 million in Groupon Class A common stock, with the final cash and stock allocation to be determined. The transaction is subject to regulatory and other customary closing conditions, including review by Korean antitrust authorities.

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Groupon has acquired Savored, a provider of reservations at restaurants across the United States. Terms of the deal were not disclosed.

Savored works with around 1000 restaurant across the United states. After booking a reservation on and visiting the restaurant, diners receive up to a 40% discount applied automatically to their bill. The restaurant get incremental revenue for tables that would otherwise be empty.

“Savored’s platform nicely complements Groupon’s efforts in yield management, an area we’ve pioneered with Groupon Now!,” said Dan Roarty, VP of Groupon Now. “We look forward to working together to achieve a common goal – making dining out even more fun and affordable for consumers while helping restaurateurs manage inventory and grow their businesses.”

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