The acquisition, announced Tuesday, was done by Tiki Investment, a subsidiary of Tiki established last year with a charter capital of VND250 billion ($10.8 million).
The deal, whose value was not revealed, came after Tiki Chairman Tran Ngoc Thai Son took over the CEO chair of Ticketbox in July.
HCMC-based Tiki, second to Singapore-based Shopee as the most visited e-commerce website in Vietnam, estimates the country’s event ticket market to be worth $40 million this year, up 50 percent from last year, and the movie ticket market, $160 million.
This is the first time Tiki has bought a company.
In June it had announced plans to sponsor 100 music videos by Vietnam’s most popular artists to attract more e-commerce traffic.
Ticketbox, established in 2013, sells tickets online for concerts, musicals and conferences and partners with event management companies to organize concerts.
The company plans to sell tickets for 5,000 events from now until January, and will begin selling movie tickets from November.
Từ vựng liên quan
Tin tức liên quan
Putting a limit on apartment ownership is necessary to ensure residents’ safety, the Ministry of Construction said, reiterating and clarifying a proposal that was faced with backlash four months ago.
Despite various tax and loan benefits, developers say returns from building social housing are too low while procedures are tortuous.
Vietnamese cryptominers say they have suffered heavy losses with their mining rigs turning useless after Ethereum, the second-largest cryptocurrency, completed its switch to a more energy-efficient framework.
Vietnam is where people put the biggest share of their money into cryptocurrency, according to a study by US blockchain data platform Chainanalysis.
Vietnam's domestic coffee prices stayed unchanged on Thursday from a week earlier, with trading activities expected to remain subdued until the next harvest season in October, traders said.
Fuel distributors want a commission of VND1,500 ($0.06) per liter instead of zero as the mounting losses are pushing them to the verge of bankruptcy.