Leading Independent Ticket Marketplace Enhances Portfolio by Acquiring Leading B2B Technology Company
CHICAGO, April 11, 2019 /CNW/ -- Vivid Seats, the leading independent ticket marketplace in North America, today announced the acquisition of Fanxchange, a Toronto-based company focused on B2B, enterprise and distribution, for up to $60 million ($85 million CAD).
Fanxchange streamlines the way consumers shop for live events by surfacing tickets across multiple distribution verticals where consumers are already engaging in content and commerce. With Fanxchange's portfolio of partners, Vivid Seats will now power ticketing for some of the largest brands, providing their consumers access to their favorite live events via best-in-class technology.
The deal is the first acquisition for Vivid Seats, a multi-billion tech company based in Chicago and will further its position as one of the most trusted, authoritative, and comprehensive ticket marketplaces in North America.
"Vivid Seats is constantly exploring new ways to deliver more of the unparalleled joy of live events that has fueled our success to date," said Stan Chia, Vivid Seats' CEO. "With Fanxchange, their focus on servicing the live event ticketing needs of distribution partners is an important complement to the consumer marketplace that we've built to date. We are thrilled to add their talented team and robust B2B platform, ultimately connecting more fans, sellers, and partners with superior technology and the best marketplace experience."
Founded in 2009 by Brandon Koffler and Shawn Brookes, Fanxchange provides live event ticketing solutions for major loyalty programs, financial institutions, travel and hotel providers, concierge services, e-commerce marketplaces and other distribution partners.
"Since 2009, we have focused on building a company and platform driven by innovation," said Brandon Koffler, CEO of Fanxchange. "With access to Vivid Seats' infrastructure, resources and scale, we can rapidly accelerate our growth in enterprise and distribution. We're very excited about this opportunity."
Through the acquisition, Fanxchange will become part of Vivid Seats with Koffler and Brookes continuing to lead the enterprise and distribution vertical, alongside their team in Toronto, Canada.
About Vivid Seats
Vivid Seats is the leading independent marketplace for tickets to live sports, concerts and theater events, and the industry's leading provider of technology platforms and service solutions. Founded in 2001, the Chicago-based tech company offers exceptional affordability across one of the widest selections of premium tickets and event packages. Selected by organizations like ESPN, the LA Clippers, Notre Dame and the Duke Blue Devils to serve as official ticketing partners, Vivid Seats supports all confirmed orders with a 100% Buyer Guarantee and a dedicated customer service team to ensure the safest and most convenient purchase experience. Fans who want to sit closer and see more of their favorite live events can order directly on vividseats.com, by downloading the Vivid Seats mobile app or by phone at 866-848-8499.
Fanxchange is the B2B industry leader in powering white labeled live event ticketing solutions for major loyalty programs, financial institutions, travel providers, hotel operators, e-commerce marketplaces, and distribution partners; providing their users access to tickets for all their favorite live events.
SOURCE Vivid Seats