Songkick And Crowdsurge Merge
June 5, 2015 at 4:00 AM (PT)
Two technology players in the live music and ticketing business -- SONGKICK and CROWDSURGE -- are merging. BUSINESSINSIDER reports, "the new company will keep the SONGKICK brand, with the merger accompanied by a $16 million funding round from venture capital firms INDEX VENTURES, SEQUOIA CAPITAL and ACCESS VENTURES -- the latter also owns major label WARNER MUSIC GROUP, and is a major investor in streaming music service DEEZER."
“The combined company will help artists sell more tickets directly to their fans and fix the central problem at the heart of the concert industry -- that 50% of tickets go unsold,” SONGKICK posted on its blog.