Global insurance brokerage and risk management firm acquires parent company of RTIB for undisclosed sum.
Sign up for IQ Index
The latest industry news to your inbox.
With the buy-out, the Spanish social network – which connects users based on their taste in live music – is now active in more than 20 countries
By Industria Musical on 19 Dec 2016
The acquisition is a bold step forward for Wegow, which was founded in 2014 by Jose Maria Ozamiz and Gonzalo García-Miñaur. With constant growth, both in users and turnover, Wegow has been positioning itself for two years as a social network for concertgoers in Spain, offering everything from basic information on dates and times of concerts to artist biographies and links to purchase tickets.
It has received investment from the government of Biscay, in the Basque country; the city of Bilbao; and the European Union Agency for Network and Information Security (Enisa).
With this purchase, Wegow is present in more than 20 countries and has more than a million users. In the coming months, it plans to grow its marketshare both in Spain and internationally, strengthening its relationship with concert promoters and festivals, artist managers and venues.
Industria Musical is Spain’s leading music business website. With readers from Spain, Latin America and the United States, IM offers daily news; analysis; interviews; opinion; and promotion and consultancy services, including IM Presents, in partnership with Deezer.