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SeatGeek<\/a> is announcing a deal to acquire TopTix<\/a> for $56 million.<\/p>\n While SeatGeek has made acquisitions before<\/a>, this is its biggest, and the company funded the deal by raising a $57 million Series D led by Glynn Capital. (Previous investors\u00a0Accel, Causeway Media Partners, Haystack Partners, Mousse Partners and Technology Crossover Ventures also participated.)<\/p>\n \u201cWe really weren\u2019t thinking money,\u201d SeatGeek\u2019s Jack Groetzinger told me. (He\u2019s pictured above\u00a0with his co-founder Russell d\u2019Souza.) \u201cWe were in a pretty strong position, with cash on the balance sheet, but it felt\u00a0like [this acquisition] was too good to pass up.\u201d<\/p>\n He suggested that SeatGeek and TopTix make for a particularly good match, because while his company has focused on building\u00a0the best consumer experience for finding events and buying tickets, TopTix works on the back end, creating the tools that allow\u00a0venues to accept tickets \u2014 in fact, TopTix\u00a0currently processes 80 million tickets a year for customers including the\u00a0Royal Dutch Football Association, Buckingham Palace and the Ravinia Festival.<\/p>\n TopTix customers will become SeatGeek customers, and TopTix co-founder Eli Dagan will continue to lead the company\u2019s engineering team in Israel.<\/p>\n \u201cBy marrying those two things together, we\u2019re creating a very powerful full stack that\u2019s miles ahead of the legacy ticketing companies,\u201d Groetzinger said.<\/p>\n SeatGeek and TopTix were already working together on the launch of SeatGeek Open<\/a>, a platform allowing sports teams and venues to sell tickets directly, so the acquisition is supposed to help the company expand Open more aggressively. (SeatGeek, which launched at the TechCrunch50 conference, previously focused on resale tickets.) Supposedly, the Open platform helped\u00a0its first customer, Major League Soccer team Sporting Kansas City, increase online sales by 61 percent from\u00a0the previous\u00a0season.<\/p>\n While working with TopTix\u00a0on the Sporting Kansas City deal, Groetzinger\u00a0said he got a good look at the\u00a0technology, and he liked what he saw.<\/p>\n \u201cUsually when you get under-the-hood with something\u00a0like this, you uncover unpleasantness,\u201d he said. \u201cThis was quite the opposite \u2014 we were even more impressed.\u201d<\/p>\n Featured Image: SeatGeek<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"Russ](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2015\/11\/jack-and-russ-2.jpg?w=680\")
SeatGeek is announcing a deal to acquire TopTix for $56 million. While SeatGeek has made acquisitions before, this is its biggest, and the company funded the deal by raising a $57 million Series D led by Glynn Capital. (Previous investors\u00a0Accel, Causeway Media Partners, Haystack Partners, Mousse Partners and Technology Crossover Ventures also participated.) “We really weren’t… Read More<\/a><\/p>\n\n<\/img><\/a>
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