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Taiwan music streamer KKBox invests in ticket vending startup WalkieTicket

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.