Ticketfly

Ticketfly is a ticket distribution service started in 2008 in San Francisco, California. Andrew Dreskin, CEO of Ticketfly, previously co-founded the company Ticketweb, which is now owned by Ticketmaster. Ticketfly grossed $500 million in 2013, processing 11.2 million tickets for more than 80,000 events across Canada and the United States.[1]

Ticketfly has 130 employees and has raised $37 million from investors such as SAP Ventures, Mohr Davidow Ventures and High Peaks Venture Partners.[2]

Ticketfly competes against Ticketmaster with cheaper tickets and social media capabilities for promoters. In 2012, they managed ticket distribution for 360 venues across the country, though this number jumped to more than 1,100 venues in 2015.[3]

On October 7, 2015, Ticketfly announced its acquisition by music streaming service Pandora in a $450 million cash and stock deal.[4] The acquisition serves to complement the company's core streaming product; CEO Brian McAndrews explained that it would leverage Ticketfly and Pandora's "engaged" user base to "thrill music lovers and lift ticket sales for artists as the most effective marketplace for connecting music makers and fans."[5]

References

  1. ↑ "HOW TICKETFLY TURNED ITS COMPETITION INTO A COMPETITIVE EDGE". Retrieved 15 April 2014.
  2. ↑ "Ticketfly sold $250 million in tix in 2013". San Francisco Business Times. Retrieved 15 April 2014.
  3. ↑ "Who's taking on ticketmaster". Retrieved 15 April 2014.
  4. ↑ "Game changer: Pandora confirms $450m acquisition of Ticketfly". musicbusinessworldwide. October 7, 2015. Retrieved December 30, 2015.
  5. ↑ "Pandora makes $450M acquisition so it can sell you live music tickets". Ars Technica. Retrieved 8 October 2015.


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