Music discovery platform Pandora (NYSE:P) is to acquire Ticketfly, Inc., a San Francisco, CA- and Toronto, Canada-based live events technology company, for approximately $450m.
Led by Andrew Dreskin, co-founder and chief executive officer, Ticketfly Ticketfly provides ticketing and marketing software for approximately 1,200 leading venues and event promoters across North America and allows fans to find and purchase tickets to events. In 2014, the company sold 16 million tickets to more than 90,000 live events, generating more than $500 million in transaction volume and crossing the $1 billion mark in cumulative transaction volume.
The acquisition will enable Pandora to add features to create a definitive music platform for connecting fans, artists and event promoters and enable artists and promoters to sell out more shows.
Moving forward, Ticketfly will continue to support its music and non-music clients alike.
Founded in 2008 and led by Brian McAndrews, chief executive officer, Pandora is a music discovery platform that connects artists fans and listeners around music. The acquisition of Ticketfly follows the recent launch of its Artist Marketing Platform (AMP), a suite of tools to allow artists to understand, engage with and market to their fans. Earlier this year, the company rolled out Artist Audio Messages, giving artists the opportunity to speak directly to fans through recorded messages. Pandora also acquired Next Big Sound to generate even more insights into artists, their fans and music trends.
FinSMEs
07/10/2015