When you hear the name SeatGeek, you likely think of paying top dollar for tickets to a sold-out show or game. The company badly wants to change that perception. Today, SeatGeek is announcing its $56 million acquisition of TopTix, an Israeli company specializing in backend technology for selling primary tickets.
With this move, SeatGeek is doubling down on its ambitious plan to challenge Ticketmaster and Live Nation by becoming a firsthand seller of tickets, rather than just a marketplace for secondary ticket sales. The company launched SeatGeek Open, its platform for selling tickets firsthand, in August 2016. The technology and engineering talent coming over from TopTix will go toward further building that platform out. And, if all goes according to the company’s plan, you’ll be buying a lot more than scalped Adele tickets from SeatGeek in the future.