The acquisition will give Masii.com a new platform to serve its banking customers.
“Events ticketing is one of the highest conversion points of sale for a credit card. They also help build brand loyalty for existing credit card customers – if buying a ticket with your CIMB Thai credit card gets you special access to seating and promotions on our site, you’ll be an even happier customer,” Masii.com’s CEO and co-founder Max Meyer told DEALSTREETASIA.
Meyer confirmed that this deal was not a part of its series A round that raised around $2.43 million in February this year.
“One Place is a site that I and our team have used at various points and we liked the company. As residents of Bangkok, there aren’t so many sites that aggregate all the events that are happening, for locals and tourists alike. There are more than 10 art expositions in Bangkok right now, but there’s no place that lists them all. We want to build One Place as a events discovery and ticketing resource that people love to check on a daily basis,” he explained.
One Place was founded in 2011 as a one-stop online ticket agent for artistic venues and shows in Bangkok including Bangkok Comedy Club. Along with the deal, One Place’s co-founder Eliot Delunas will come on board in 2019.
“One Place carved out a niche by thinking differently about how people find things to do, and from the fintech side, how to solve the unique payment problems that exist locally. Masii.com is at the forefront of the rapidly evolving fintech industry, which will provide excellent synergies in staying relevant and adapting to best serve Thailand’s online customers,” said Delunas.
Meyer added Masii.com’s monthly revenue had increased by nine times from January to December this year and its organic traffic grew by 10 times.
“Organic is now our largest source of customers, and it grows every month. We added niche products like drone insurance to the portfolio. In drone insurance we became the largest online seller in Thailand, with over 80 per cent market share of online drone policies. The number is still quite small, but as drone enthusiasts ourselves, we’re thrilled,” he said.