Ticketbits, a Spanish ticketing platform founded by Ander Michelena and Jon Uriarte in 2010, recorded gross revenues of €84M in 2015 and is present in more than 40 countries.
Yesterday it was announced that Ebay had bought Ticketbits The heads of Ticketbis, Jon Uriarte and Ander Michelena, will remain linked to Ticketbis.
In these six years, the startup has received funding from investors such as Active Venture Partners, Fabrice Grinda and José Marín for an amount of €26M.
Ticketbits stands out as one of the first companies to successfully export this online ticketing business model to regions in Southern Europe, Latin America and Asia.
Objective: To be the market leader in your sector
Ebay had already bought the startup in 2007. StubHubThe price of this acquisition was around $310M.
StubHub and Ticketbis form the perfect tandem. The Spanish platform, in fact, is a clone of the American platform. The Ebay subsidiary is strong in the US, Canada and the UK, while Ticketbis, present in 47 countries, is the leader in Spain, Portugal, Asia and South America, a market in which StubHub does not have much of a presence.
eBay has explained that the online secondary ticket market has been present in the United States for more than a decade. However, in many countries this type of business model is relatively new and unknown. Ticketbis is one of the first companies to successfully export this business model to regions in Southern Europe, Latin America and Asia, making it easier for users to attend events around the world.
Stubhub is committed to innovation
Stubhub has been characterised by innovation, in 2006 they created the first ticket guarantee programme for both buyers and sellers. In 2010 they launched the industry's first ticketing app for iOS devices, in 2013 they became the first ticketing company with naming rights for stadiums. Now the purchase of Ticketbits makes it the world leader in the industry.
Purchases made on Ebay
Ebay has made more than 50 mergers and acquisitions since 1998. In 2016, the company, in addition to Ticketbits, bought Expertmaker, which specialises in Artificial Intelligence and data analysis, and Cargigi, a provider of advertising services.
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