The Italian market presents a "huge growth opportunity" for SeatGeek, according to the ticketing company's CEO, Jack Groetzinger
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The US secondary ticketer has revealed the scale of its ambition for the new SeatGeek Open primary platform with the $56m acquisition of SRO⁴ developer TopTix
By Jon Chapple on 19 Apr 2017
SeatGeek, the New York-based ticket aggregator and resale site, has acquired Israeli ticketing software developer TopTix in a US$56 million deal it says “instantly makes SeatGeek one of the largest primary ticketers in the world”.
The two companies have been partners since August, when SeatGeek announced a move into the primary market, powered by TopTix’s SRO⁴ software. The new primary platform, now dubbed SeatGeek Open, will allow promoters and sports teams to sell tickets via other apps and websites, “in places where fans are spending time and consuming content”, such as ecommerce and social-media sites. “This is a radically different approach from that of industry incumbents, which limit the distribution of tickets,” seats SeatGeek.
The acquisition of TopTix was financed by a new venture funding round led by Glynn Capital. All 500+ TopTix clients, which in the music space include Kappa FuturFestival in Turin, the Concertgebouw venue in Amsterdam and Australia’s Theatre Royal, become clients of SeatGeek, with TopTix operating as a subsidiary.
“Combining these two platforms together allows SeatGeek to deliver the most powerful – and only open – ticketing platform in the industry”
“As anyone who has spent time in the entertainment industry knows, ticketing is a pain point for teams, artists, venues, and their fans,” comments Glynn Capital’s David Glynn. “We believe that SeatGeek, strengthened by TopTix, is providing a better option through an innovative business model and best-in-class technology, and we think that’s the key to turning a massive industry on its head.”
Adds SeatGeek co-founder Jack Groetzinger: “TopTix has by far the best back-end primary ticketing technology in the world, and we humbly believe that at SeatGeek we have created what is easily the best user experience. Combining these two platforms together allows SeatGeek to deliver the most powerful – and only open – ticketing platform in the industry.
We’re thrilled to be working with the team from TopTix to continue to build our open ecosystem that is transforming the way people access live events.”
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