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Tiki acquires Ticketbox: The further strategic step to complete the e-commerce ecosystem

An “all in one” e-commerce ecosystem

The past few years have witnessed the fact that Vietnamese audience is more willing to spend on high quality entertainment content, including movies, music, sports, or other entertainment content. 

It is estimated that the Vietnamese event ticketing market will reach 10 million USD in 2019 while the cinema ticketing is also expected to obtain 160 million USD at the end of this year.

The significantly increasing demands of Vietnamese customers towards entertainment content, along with the existing online platform of managing and delivering event tickets from Ticketbox, Ticketbox acquisition by Tiki is an essential strategy in order to complete Tiki’s “all in one” e-commerce ecosystem.    

Besides its existing products and services fulfilling customers’ demands on a daily basis, including FMCG, fashion - beauty, electronics, mom & baby, healthcare products, etc., the event and cinema ticketing service by Ticketbox contributes to enriching Vietnamese lives.  

 
Các đại diện của Tiki và Ticketbox thực hiện nghi lễ chính thức sáp nhập Ticketbox về Tiki, ngày 20/8. 

The representatives of Tiki and Ticketbox perform the official ceremony of merging Ticketbox on 20/08

“Tiki is a startup, receiving the financial support and strategic consultation from both domestic and international investors. We deeply understand our mission is optimizing these advantages to offer 98 million Vietnamese citizens with the best-in-class products and services. Investing in Ticketbox is aligning with our ‘For Customers’ journey. Along with the financial investment, Tiki also utilizes our existing assets, such as technology, manpower, process, etc. so as for Ticketbox to not only better serve Vietnamese audience but also promote the national entertainment industry”, shared Mr. Tran Ngoc Thai Son, Founder cum Chairman of Tiki Corporation.  

Mr. Tran Tuan Anh, Founder cum CEO of Ticketbox also shares: “Ticketbox has marked several milestones and hopes to contribute more to Vietnamese entertainment industry. Hugely supported by a trusted e-commerce platform like Tiki, I myself believe that Ticketbox is going to further develop in the upcoming time. This acquisition event is a positive for domestic entertainment industry.”   

Technology makes it different

Tiki has invested in “Tiki accompanies with Vietnamese stars”, supporting 100 music videos in 2019. Ticketbox platform is strongly considered a further step for this project by supporting artists and event organizers to deliver more high-quality and big-scale events, as well as easily approach their audience.  

Audience, furthermore, also benefits from differentiating and convenient ticket purchase experience on Ticketbox thanks to the attribute of selecting seats, fast online check-in without queuing for a long time, safe payment methods.

Besides, Ticketbox also offers event organizers with not only a cost-efficient ticket delivery solution but event communications and optimal online payment methods as well. It is thanks to technology advances, as a plus, that Ticketbox will provide its partners with deep-dive analysis and reports in terms of customer behaviors and interests, from which each partner is able to target their audience.   

Mr. Nguyen Hoang Viet, Chief Technology Officer of Ticketbox says: “Expecting to offer diverse and quality content to the audience, 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. Social attribute is also a new feature on Ticketbox, allowing to enhance customer experience. Moreover, we intend to create the connection between Tiki and Ticketbox platforms to benefit our customers in a maximum scale. For instance, customers can use TikiXu from their Tiki accounts to purchase tickets on Ticketbox.”               

Ticketbox business objectives are shared to sell cinema tickets from nationwide trusted cinema systems with selecting seat attribute till November 2019; as well as have over 5,000 events onboard till January 2020. This number of events are expected to increase 2-3 folds through per year.   

Additionally, Ticketbox development plan includes a social network platform for its audience to share, discuss and review events, movies, etc., and even be connected with their idols.  

 

FURTHER INFORMATION:

 

Tiki is one of ten businesses to make great impacts on Vietnam Internet, according to Vietnam Internet Association. Upon its 9-year development journey with the financial support from both domestic and international investors, including CyberAgent Ventures, Sumitomo (Japan), STIC, KIP (Korea), VNG (Vietnam), EDBI (Singapore), JD.com (China), etc. Tiki is currently among leading multi-selection e-commerce platforms in Vietnam, capable of delivering to 63 cities and provinces.

 

Ticketbox is a leading online platform of managing and delivering event tickets in Vietnam, allowing its audience to purchase event tickets in the most fast and convenient way; furthermore, a trusted partner for event organizers to easily introduce events and sell event tickets.

Trịnh Vũ

* Source: startup.express.net

 

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