[THE INVESTOR] E-commerce giant Ticket Monster, popularly known as TMON, has attracted 50 billion won (US$44.35 million) from Simone Investment Managers, a subsidiary of ODM handbag maker Simone, according to Seoul Economic Daily on April 26.
The asset management company has decided to funnel the investment from its 150 billion won Global Venture Investment Fund created in May 2016.
TMON plans to go public and has been striving to attract US$300 million since early last year. It secured US$40 million investment from NHN Entertainment in April last year.
This cash injection will help improve the company’s financial structure helping it list on the benchmark KOSPI.
By Hwang You-mee (firstname.lastname@example.org)