Vietnam’s popular e-commerce platform Tiki today announced that it has acquired local ticketing startup Ticketbox in its first-ever acquisition. The firm says this is part of its efforts to build an “all in one” e-commerce ecosystem.
Founded in 2013, Ticketbox is an online ticketing startup coming out of Ho Chi Minh City. It offers event organizers cost-efficient ticket delivery and marketing solutions for events to sell tickets better. Ticketbox also provides partners with analysis and reports on customer behaviours and interests.
Speaking at the announcement event in Ho Chi Minh City, Tiki CEO and founder Tran Ngoc Thai Son said the acquisition will allow Tiki to use Ticketbox’s assets and technology to better serve the Vietnamese audience and promote the national entertainment industry.
Nguyen Hoang Viet, chief technology officer of Ticketbox, said Ticketbox has been investing in big data and machine learning in order for event organizers and producers to have a deeper understanding of their audience’s interests.
He added that the acquisition will create a “connection between Tiki and Ticketbox platforms to benefit customers.” Ticketbox’ development plan also includes a social networking element for its audience to share, discuss and review events, movies.
Founded in 2010, Tiki is Vietnam’s current second largest e-commerce platform by traffic. It started out as an online bookseller but now has ventured out to sell products across 26 categories. Tiki is reportedly looking to raise more than USD 100 million in its next funding round.
The e-commerce platform recently refuted a report saying that Chinese e-commerce giant JD.com currently holds the largest shares in Tiki, stating that investors from China only have about 21.5% of the ownership of the company.
