Square invests $25m in event ticketing firm Eventbrite
28 September 2017 | 5198 views | 0
Square is strengthening its presence in online commerce through a deal with Eventbrite which will see Jack Dorsey's firm process payments for, and make a $25 million investment in, the event ticketing outfit.
Under the deal, Square will be Eventbrite’s payment processing partner for online and mobile transactions, covering paid events, tickets, registrations, merchandise sales and donations. In addition, Square will also cover in-person payments, using its hardware and software to enable event creators to accept card payments from attendees.
Event managers will get a single platform, with omni-channel payment, reporting, and management capabilities designed to give them the data to make informed decisions about their businesses.
Eventbrite processes up to three million tickets a week and expects to facilitate over $4 billion in sales in 2017, giving Square a significant chunk of the online payments market currently dominated by the likes of PayPal.
Alyssa Henry, seller lead, Square, says: "We’re thrilled to bring Square’s payments technology to Eventbrite. As the lines that separate online and offline business fade, we look forward to helping them further simplify all aspects of commerce, so they can stay focused on their core business of powering great live events."