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Online Ticketing Company TicketBox Acquired by E-Commerce Firm Tiki

The deal is part of Tiki’s strategy to complete an “all-in-one” ecosystem and marks its entrance into the entertainment sector.

On August 20, Vietnamese e-commerce company Tiki officially acquired popular online tick platform Ticketbox through its subsidiary, Tiki Investment, Thanh Nien reports. The deal marks Tiki’s first acquisition since its establishment in 2010.

According to Tiki representatives, Ticketbox will still function independently under the same name, while Tiki will support Ticketbox with financial and human resources. Integration between the two platforms is expected to roll out in the near future.

“Along with the financial investment, Tiki also utilizes our existing assets, such as technology, manpower, processes, etc., for TicketBox to not only better serve Vietnamese audience[s], but also promote the national entertainment industry,” said Tiki CEO Tran Ngoc Thai Son.

The acquisition also acts as a complement to Tiki’s newly established venture of supporting 100 Vietnamese music videos in 2019. 

Ticketbox claims that by November 2019, they will establish a movie ticket service, and by January 2020, the number of events listed on the site will increase to 5,000. 

“Ticketbox is investing in big data and machine learning in order for event organizers and producers to have a deeper understanding of their audience’s interests, then create more proper content with the most efficient cost,” said Nguyen Hoang Viet, chief technology officer of TicketBox.

[Photo via Tuoi Tre]

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