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LivingSocial Issues $143 Million in Equity for TicketMonster Acquisition

October 7, 2011 | Written by Boyan Josic, Founder & CEO

livingsocial

The number two daily deals provider, LivingSocial has issued $143 million in equity to acquire TicketMonster. According to a Securities and Exchange Commission the sale was “made in connection with a business combination transaction, such as a merger, acquisition or exchange offer”.

I reached out to Brendan Lewis, Director of Corporate Communications at LivingSocial, who declined to comment on financial matters.

Earlier on, Erick Schonfeld from TechCrunch speculated that TicketMonster and Grupfoni were the most likely candidates. The entire amount was for TicketMonster. Grupfoni was not part of this deal.

Back in August we reported LivingSocial’s acquisition of the South Korean daily deals provider subject to Korean regulatory approval.

LivingSocial had originally been preparing for an IPO but due to current market conditions was later said to be reconsidering the move.

Boyan Josic

Boyan Josic is a thought leadership expert for digital media, content creation and local commerce who acquires and develops digital media products and services through his firm Mogul Media. Boyan is also the founder and editor of Daily Deal Media, the number one resource for news, events, data and intelligence for the Daily Deal Industry. There is nothing Boyan enjoys more than being immersed in every aspect of the “product creation” cycle, followed closely behind “enabling content marketing channels” that give those products life. To interact with Boyan, follow him @boyanjosic. If that doesn’t work and it’s snowing, try Copper Mountain, Colorado.

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