US: Square buys US$25m Stake in Eventbrite

Square, the payment processing company, has partnered with Eventbrite, the event ticketing service, and will make an investment in the company.

According to news from Bloomberg, Square is putting US$25 million into the startup, which lets organizers of events sell tickets, promote their events and manage who attends. Some of Eventbrite’s customers, according to the report, include the Tribeca Film Festival and Maker Faire.

The event ticketing service says it processes two million to three million tickets sales per week and predicts it will facilitate more than US$4 billion in ticket sales in 2017 alone. Under partnership terms, Square will be in charge of online, mobile and in-person payments in countries that the payment processor is operational.

“Online is a natural extension of Square because its offline retail clients are online also,” said David Ritter, an analyst at Bloomberg Intelligence in the report. “Everyone is competing in everyone’s territory now. If you’re online, you’re dipping in offline and vice versa.”

Full Content: PYMNTS

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.