group online top site GroupOn buying tied up with Live Nation Inc. to launch a new online ticketing deals web site that will help customers buy tickets for concerts, theatres and other events online at discounted prices.
Live Nation Entertainment, which was created by the combination of the organizer of Live Nation and Ticketmaster Entertainment, produces concerts performances of more than 20 000 each year more than 2,000 artists and groups such as Rihanna and Def Leppard.
The new site, GrouponLive, timed to start with the summer concert season, agira as a local resource for the events of Live Nation and its ticket sales, Ticketmaster business customers, the companies said in a statement.
The companies did not disclose the financial terms of the agreement.
"Our success is based on the sale of tickets and fill seats and GrouponLive gives us another platform to achieve this," said Live Nation Chief Executive Michael Rapino.
GroupOn, which awaited IPO could value the company at about $15-20 billion, is a leader in the hot and crowded daily deals market online.
The company has increased by approximately 50 million users of 3 million across 500 cities in 40 countries in 2010.
Live Nation shares had closed at $10.75 Friday on the New York Stock Exchange
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