You might recall last month there was talk of a rumoured company sale going on with Pandora, the famed Internet radio platform. Now, there’s been some confirmation on that front, with Pandora selling off their Ticketfly service to Eventbrite for US$200M.
Following on from news of financial hardships, including a quarterly net loss of US$132.3M, Pandora have also managed to raise a US$480M investment from SiriusXM, another well-known Internet radio platform.
Now this news has been compounded by the fact that Pandora’s ticketing service Ticketfly, which the company bought in October 2015 for US$450M, has been sold to leading ticketing service Eventbrite.
As Billboard reports, over the last few years, Eventbrite has been a main competitor for the Ticketfly service, considering that both services have long gone after the same clients. Ticketfly was originally founded in 2008 as a means to compete with some of the larger ticketing companies, such as Ticketmaster and Ticketweb.
Pandora’s sale of Ticketfly to Eventbrite is expected to be closed by the end of September.