Ticket marketplace platform TickPick has received a $250 million investment from Brighton Park Capital, an investment firm focused on growth-stage companies.
Brighton described the deal as “the largest fundraiser in the ticketing industry to date.”
Founded in 2011 by Co-CEO Brett Goldberg and chris o’brienTickPick promises to eliminate hidden fees. The company says its all-inclusive, no-fee pricing model saves more than US$180 million Since the establishment of the TickPick platform, only service fees have been charged.
This approach is consistent with recent legislative efforts in the United States aimed at increasing transparency in the ticketing industry. Lawmakers have been pushing for reforms to address issues such as hidden fees, sales transparency, buyer protection, speculative tickets and deceptive websites.
“TickPick…eliminates one of the biggest pain points for consumers through its free model.”
Kevin Maganbrighton park capital
TickPick’s rise also coincides with the broader ticketing industry, particularly live country and its ticketing department Ticketmasterfacing scrutiny over pricing practices.
Earlier this year, Live Nation defended its fee structure, saying that while service fees may be unpopular, they are necessary to cover the costs associated with producing live events. The company is currently defending against an antitrust lawsuit filed by the U.S. Department of Justice.
TickPick said it has seen significant growth, 14 million Mobile App Download and 8x Sales have grown continuously over the past three years and are now close to US$1 billion in terms of ticket sales.
this US$250 million Investment comes from brighton park capital It is expected to enable TickPick to further expand its business scale and continue to innovate in the ticketing space.
“We have a multi-year relationship with Brighton Park and given the company’s proven track record of working with founder-led companies and marketplace platforms, it was the clear choice for us to partner with, and we believe it will help us continue to scale our business and drive have a lasting impact,” said Brett Goldbergco-founder and co-CEO of TickPick.
Kevin Magan“TickPick has achieved tremendous growth by delivering a strong value proposition that both enhances the customer experience and eliminates one of consumers’ biggest pain points with its free model,” said Brighton Park Capital partner.
“We founded TickPick with an unwavering commitment to providing consumers with a transparent and hassle-free ticket purchasing experience.”
Chris O’BrienCheck
also, Symphony Investmentsinvestment partnership of professional golfers Rory McIlroyhas joined as a strategic investor. Symphony Ventures’ participation is expected to help TickPick reach new audiences and expand its platform. TickPick has partnerships with several major teams, including Philadelphia Eagles, Los Angeles Rams, and minnesota twins, and football league La Liga North America.
Chris O’Brien“We are excited to announce this latest growth investment that will help accelerate our ability to transform the ticketing industry,” said TickPick Co-Founder and Co-CEO. “We founded TickPick with a strong commitment to providing consumers with transparent, worry-free ticketing experience. This investment will deepen this commitment by allowing us to accelerate product innovation, increase our brand awareness, and reach more customers than ever before.
As part of this investment round, gray lionThe private equity firm that invested in TickPick in 2019 will exit its position.
“Brett, Chris and the entire team at TickPick have built successful and scalable businesses in the live events industry. We are proud to partner with TickPick to help them strategically drive growth and wish them continued success.” Santi NunezGray Lion Partner.
Goldberg added: “We highly value our partnership with Gray Lion, who support our growth ambitions through organic and strategic investments. Their experience investing in high-growth markets has helped TickPick increase revenue fivefold since investment many.
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