#ticket monster

[crinolinedream]

Totally tracks.

[throwanitback]

passing the torch

[sweetpea666]

My response to the Ticketmonster "apology"

TAYLOR SWIFT | THE ERAS TOUR ONSALE EXPLAINED - Ticketmaster

We strive to make ticket buying as easy as possible for fans, but that hasn’t been the case for many people trying to buy tickets for Taylor

Not you making a new blog post after being caught lying and pushing off the blame on the last one... Honestly you added like 4 lines to your original article, adding a half assed apology. All you care about are profits, you even bragged about them in your "apology". Do better. Regret, responsibility, restitution. Thats whats needed to make an honest apology. Take notes, this apology ain't it. You made no effort in explaining any kind of restitution or solution to the issue or mention of selling more tickets later. Even if you don't have a solution set in stone yet, at least tell us you're working on something, this is just an empty apology with no discernible recourse action. Do better. Still sticking to the 15% lie? Pathetic. EVERY single person who got tickets had to go to WAR for them. *MAYBE* 15% had an "okay" experience, but I guarantee if you poll those with tickets for a customer satisfaction survey, you will see that you are GREATLY mistaken. Why were 1.5mil codes sent out when you know people could buy up to 6 tickets each for 52 shows with 60-80,000 seats in them? Thats at MOST 4mil seats available for the *whole* tour. Bots or no bots, if all 1.5mil people showed up & bought 6 tickets each, they would need 9mil seats... Like why risk overselling tickets like that? You should have required the code BEFORE entering the queue, done a bot check, and only gave out HALF the amount of codes than that. Instead, your site crashed and you oversold what should have been a presale. Own up to your own mistakes, stop blaming this on Taylor and her fans. Also you KNEW 3.5 mil people signed up for this presale, you said it yourself that the turn out for registering for codes was historic. Why on EARTH would you bank on the idea that only 40% of registered code holders would show up? Are you dumb? Really? Only 5% of tickets are being resold? Should have put that bit about "15% too many" here. Reselling above retail price goes against your policy. Take this apology tour and do something about that. Easy restitution right there. Ed did it, you can too. After all, its only 5%, right? You literally admitted to having a huge bot attack yet did nothing to stop it. "however, this time the staggering number of bot attacks as well as fans who didn’t have codes drove unprecedented traffic on our site.” I thought only verified people were able to enter the queue? Get your story straight. An “i’m sorry” isn’t gonna make your investigation go away, especially not on a blog on your website that helps your revenue go up via clicks. We, Taylor and the fans, need a public apology from a real face. You just had that old guy do that interview (where he blamed everybody but the company), have him do a follow-up interview and give us a REAL apology. Until then, go F yourselves.

[mjracles]

gong yoo behind the scenes of ticket monster commercial film shooting (2011/2012)

(source)

[mydaydreamings]

Does anyone else feel weird about the way ticketmaster is "selling" the left over taylor swift tickets? Like I had a verified fan code and I have a capital one card and didn't get tickets with either sale. And now I got to basically hand over my credit card and say "okay sure you can charge me however much you see fit and it's totally fine that I have no choice in the seats. Oh and you still want to charge me for your fees outside of the amount I said I could afford? Totally cool!" Like fuck I really want to go, but I would rather buy a ticket from a reseller than go through all this uncertainty.

[floweryrings]

im kinda glad i chose to not get tickets for the eras tour because of what ticketmaster is doing and what a lot of ppl r going through so

[confessionsoflovetv]

draft from 2020: can this COVID stop I just wanna go to a tour

2022: almost got tickets!! almost!!

[thedealnewsroom]

Groupon's Ticket Monster stake sale signals change in M&A

The Chicago-based Internet giant's agreement to sell 46% of Ticket Monster is a sign of divestitures to come.

by Jaewon Kang

As Groupon Inc. (GRPN) unloads a controlling stake in South Korean e-commerce unit Ticket Monster, industry observers say the Internet giant may be shifting its M&A gears to explore more divestitures.

Chicago-based Groupon announced Monday that it has agreed to offload a 46% stake in Ticket Monster for $360 million to a consortium of private equity firms including Kohlberg Kravis Roberts & Co. LP and Anchor Equity Partners. Groupon will retain a 41% stake in Ticket Monster.

The transaction comes after the company started a strategic review for the business in the third quarter of 2014 and values the target at $782 million.

Groupon, which provides a marketplace of deals and coupons, purchased Ticket Monster from its rival LivingSocial Inc. for $260 million in January 2014. Similar platforms provided by e-commerce companies such as eBay Inc. (EBAY) and Amazon.com Inc. (AMZN) connect sellers and buyers.

Ticket Monster fetched a higher-than-expected valuation, Gene Munster, an analyst at Piper Jaffray Co., observed, noting that he estimated that the company was worth around $500 million.

More importantly, perhaps, the transaction may reflect Groupon's change in its M&A philosophy, according to Munster.

"They've done a lot of acquisitions. They're aggressive with buying small companies in hopes that they become something bigger," Munster said, acknowledging that the company, whose market capitalization is about $4.8 billion, has a portfolio of a lot of assets that could, in fact, produce other sizable divestitures.

For example, Groupon purchased European travel application Blink and local activities marketplace SideTour in 2013. The following year, the company acquired online retailer Ideel, then known as ideeli, in addition to Ticket Monster.

"It's a sign that they're starting to monetize their portfolio," Munster said of the Ticket Monster sale, explaining that Groupon is also beginning to realize that it "can't be all things to all people."

"They've been heavily criticized by investors for being distracted," he explained. "Ticket Monster defines international distraction."

Munster added that Groupon could now look to unload other non-core assets such as Serviz Inc., Ideel and Breadcrumb. Together, the three businesses could bring in as much as $200 million, according to Munster.

Groupon purchased online flash fashion retailer Ideel in January 2014 for $43 million. The Internet company led a $10.7 million venture capital round February 2014 for Serviz, formerly known as ClubLocal. In 2012, Groupon snatched up point-of-sale system creator Breadcrumb.

The most logical exit from the businesses could be through private equity buyers that can inject investments to fuel growth, Munster said. He also pointed that the three companies joined Groupon's portfolio at different stages. Serviz and Breadcrumb are now starting to ramp up while Ideel was purchased by Groupon at a discount, Munster added.

If Groupon reverses course, the company's retail assets, including Ideel, could wind up on the block, said John Matthews, senior adviser at media industry-focused boutique investment bank DeSilva + Phillips LLC.

"Ideel is in the fashion business, and I'm not sure that's the business they want to be in," he said.

On the other hand, Matthews explained that local marketing services remains Groupon's core strength, so he said the company is likely to hold on to assets that are heavily focused on local markets.

In contrast, he said Breadcrumb might be a good candidate for divestiture, because the payment market is very competitive. "There might be buyers out there who could pay good money for it," Matthews said.

Industry publication Re/code reported earlier this month that Groupon is exploring selling some or all of its Breadcrumb business.

Nonetheless, Tom Forte, senior vice president and senior analyst at Brean Capital LLC, contended that he sees strategic value in Groupon holding onto Ideel and Breadcrumb.

Still, Ticket Monster's stake sale provides some insight into Groupon's strategy as a seller, Forte said, as it indicates that Groupon is unlikely to divest assets unless the price is right.

With that in mind, he said he wouldn't be surprised if Groupon starts to hold "an ongoing portfolio review," in which the Internet company looks at its international operations to determine where it is succeeding and where there are opportunities of improvement.

Groupon, which went public in 2011, faced difficult challenges in the 12 months after its IPO, and has been struggling since despite improvement in the last six to nine months, said an industry source who asked for anonymity.

Groupon shares are down about 72.5% since its IPO and about 13% year-to-date.

Meanwhile, the online e-commerce giant's international expansion strategy has been "ill-conceived," the source asserted, adding that growing footprint overseas involves more than "copying and pasting."

"I always felt that it couldn't be that easy," the source said.

Forte of Brean Capital contends that Groupon should be applauded for taking on the challenge posed by Internet market opportunities.

"The company should get credit for willingness to try new things," Forte said, calling Groupon both "a survivor and a success story."

Yet Groupon is facing increasing competition even in its core strength of local advertising, noted Dan Chen, managing director at boutique investment bank Siemer & Associates LLC.

Even large players with national advertising budgets are looking at targeting consumers locally to drive foot traffic into their stores, he added.

"There seems to be a growing interest in how do I automate advertising nationally, as well as locally," Chen said.

Officials with Groupon did not return requests for comment Tuesday.

Groupon also announced Monday that it has approved a $300 million share repurchase program upon the closing of the Ticket Monster sale.

Groupon generated $925.4 million in revenue for the fourth quarter ended Dec. 31, compared to $768.5 million over the corresponding period the prior year. Net income came in at $8.8 million for the quarter compared to a net loss of $81.2 million in the period a year ago.

For full year 2014, Groupon had revenue of $3.2 billion for full year 2014 compared to $2.6 billion in 2013. Net loss for the full year narrowed from $95.4 million in 2013 to $73.1 million last year.

Shares are down about 1.7% Tuesday, closing at $7.13.