Latest WalkieTicket News
Apr 24, 2015
Follow @horwitzjosh KKBox , the Taipei-based music streaming firm, announced it has invested in WalkieTicket , a ticket vending startup from the same city. The terms and size of the investment aren’t disclosed, but the deal will make KKBox WalkieTicket’s largest institutional shareholder. Taiwan Family Mart, the domestic branch of the Japanese convenience store chain, also contributed to the round. Founded in 2010 by CEO Jay Wang, WalkieTicket works with local vendors to sell tickets for concerts and events. Users can purchase tickets directly through WalkieTickets’ website and apps, or through one of several third parties – most notably FamilyMart. The convenience store chain, which has over 2,900 outlets in Taiwan , sells a variety of goods and services through its FamiPort digital vending machines . KKBox’s own ticket-vending service KKTix launched in early 2014 , months after Spotify hit the island for the first time. As BusinessNext reports , the investment will see a complete merging of KKTix and WalkieTicket’s teams and technology. Users who head to WalkieTicket’s website will soon be redirected to KKTix.com The collaboration will see each party compensate for the other’s gaps. KKBox can help drive ticket sales through traffic on its music streaming app, while WalkieTicket, which is older than KKTix, can share its tight network of vendors. In addition, KKBox can draw from its data of user listening habits to recommend upcoming events. KKBox launched in 2005 as an Asian answer to iTunes, wherein users subscribed to unlimited music streams as an alternative to paid downloads or piracy. The company currently charges a monthly fee of NT$149 (about US$5) for access to its library, and is accessible in Malaysia, Hong Kong, Singapore, and Thailand. It has over five million paying subscribers as of 2014, and raised US$104 in a funding round led by Singapore’s GIC last August. No all-you-can-eat free tier exists, but the company has said it will launch one soon . Spotify’s expansion into Asia in late 2013 led many Taiwanese to question the future KKBox. Co-founder Chris Lin told Tech in Asia last year that its long-standing relationships with long-tail labels in Asia would help it retain its users. Even so, the company continues to stay nimble. Besides launching KKTix and acquiring WalkieTicket, the company also invested in Paganini+ , a real-time bidding platform. That purchase will likely help pay the bills for a soon-to-launch free tier – a must-have in the age of Spotify and YouTube. KKTix isn’t the only high-profile ticket vending service in Taiwan. Accuvalley’s Accupass , modeled after Eventbrite, closed a series A round last year, making it one of the island’s best-funded startups. The company serves Taiwan and mainland China under two different names and business models. Editing by Michael Tegos, top image by DSLRNovice Read More
WalkieTicket Frequently Asked Questions (FAQ)
Where is WalkieTicket's headquarters?
WalkieTicket's headquarters is located at Taipei.
What is WalkieTicket's latest funding round?
WalkieTicket's latest funding round is Corporate Minority.
Who are the investors of WalkieTicket?
Investors of WalkieTicket include KKBox.