Festicket has recently announced the acquisition of UK-based multi-award-winning ticketing and cashless POS platform, Event Genius, including the company’s consumer facing brand, Ticket Arena. Festicket, which was recently ranked by the Financial Times as the 80th fastest growing company in Europe, empowers music fans to discover and book tickets and travel packages for over 2,000 music festivals worldwide. Its seamless two-sided marketplace brings together a network of nearly 6,000 accommodation and travel suppliers to create unique festival experiences for millions of festival-goers from around the world.
I’d like to introduce you to Event Genius and explain why we are excited about the acquisition.
The company was established in 2008 to transform the way that tickets could be bought and sold online. Since then the business has developed into Event Genius and now offers everything from ticketing, access control and POS cashless payments to engagement apps, fan loyalty and marketing services. The business has seen impressive growth, having served 1.9 million customers and generating €400 million worth of sales.
Festicket’s decision to acquire Event Genius dramatically expands their market reach. Collectively, Festicket, Event Genius and Ticket Arena have served more than 4.5m customers from over 120 countries.
The acquisition will go a long way to aid Festicket’s plans to expand its operations in the US festival market building on Festicket’s recent success as the exclusive UK and European partner for the Coachella festival. On top of this, the acquisition has accelerated Festicket’s plans for product expansion. Using their combined technology and expertise, they will present a unique new offering, ‘Event Genius by Festicket’. An enhancement of their current underlying platform, the new offering will bring together ticketing, accommodation, travel & packages, marketing, data insights & analytics, access control, POS and cashless payment services, and fan engagement tools.
What does this mean for our investment?
This development further demonstrates the business momentum Festicket has made since our investment. Over the past few years Festicket has secured its place in the events and festival markets, and the acquisition of Event Genius only further solidifies Festicket’s position as the world’s leading two-sided platform for live events. We believe that this is an advantageous and significant position to be in as customer preferences for experience-based products continue to grow. Our hopes are high for this new venture