Mobile commerce (mCommerce) is a large container that holds a number of innovations, solutions, paradigms and technologies. At Money2020 in Las Vegas this past October it was more apparent than ever: experts converged to discuss everything from new ideas in location-based marketing that arise from 21st century mobility, to when most Americans will be paying with their phones instead of cash, to the payment protection that is required for online purchases via smartphone or tablet. Mobility brings to commerce an incredible number of ideas, and this fact is driving ecommerce companies to make big decisions.
Groupon, for instance, an international deal-of-the-day marketing platform that connects buyers with sellers via electronic coupons, has just recently signed an agreement to acquire Korean ecommerce company Ticket Monster before the end of Q2 2014. This decision was largely motivated by the fact that Ticket Monster’s customers perform over half of their transactions via mobile device.
Eric Lefkofsky, CEO of Groupon stated, .“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. 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.”
Groupon’s focus on connecting buyers with nearby sellers by means of social media, acquiring a company whose customer base is so comfortable with purchasing via mobile device just makes sense. The agreement is for at least $100 million in cash and $160 million in Groupon sales stock. Ticket Monster will still operate under its own brand and current leadership.