Amit Chowdhry | May 12, 2010 | 848 views | Add a Comment
Categorized under Contour Venture Partners, High Peaks Venture Partners, Ticketfly, Ticketmaster
Tickeyfly.com is a New York-based startup that plans to directly compete against Ticketmaster. The company has raised $2 million in Series A to do so. Investors include High Peaks Venture Partners and Contour Venture Partners. Last year Ticketfly raised $1 million in convertible debt from angel investors Howard Lindzon and Roger Ehrenberg.
Amit Chowdhry | February 11, 2009 | 1,340 views | Add a Comment
Categorized under Barry Diller, Live Nation, Michael Rapino, Ticketmaster
Live Nation and Ticketmaster have entered a definitive agreement to merge in a deal worth $2.5 billion. The new entity will be called Live Nation Entertainment. The deal is tax-free and is in all stock and is subject to potential legal issues.
“It was less than two months ago that Ticketmaster ended its 10-year partnership with Live Nation, and I’m extremely glad we could reunite with this combination. No different from any other industry, the challenges are all around every aspect of live entertainment. Being able to put Live Nation and Ticketmaster into an equal partnership will allow the companies to get through this difficult period and be able to expand live entertainment options to audiences throughout the world,” stated Diller.
Barry Diller will be chairman and Michael Rapino will be CEO of Live Nation Entertainment. Dropping the Ticketmaster brand name may help the company increase sales since Live Nation has a better reputation.
Amit Chowdhry | January 16, 2008 | 1,143 views | Add a Comment
Categorized under Adam Street Partners, Draper Fisher Jurvetson, IAC, New World Ventures, Portage Venture Partners, Ticketmaster, TicketsNow
IAC/InterActiveCorp (NASDAQ:IACI)’s Ticketmaster stated yesterday that they would acquire TicketsNow for $265 million. TicketsNow is a website where consumers can buy tickets for events such as the NFL Playoffs, Hannah Montana, and musicals.
eBay also was rumored to be looking into the acquisition of TicketsNow. But eBay also recently acquired StubHub for $310 million. TicketsNow’s first round of funding was $8 million around the middle of 2006 from DFJ, Portage Venture Partners, and New World Ventures. Then the $8 million turned into equity as the company raised $35 million last year, led by Adam Street Partners.
As Ticketmaster’s contract with concert promotion company, Live Nation Inc. ended recently, Ticketmaster wanted to seek additional revenue streams. Live Nation is starting their own box office for ticket sales. Live Nation was a previous subsidiary of Clear Channel Communications.
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