SAN FRANCISCO, CA--(Marketwired - December 07, 2015) - Today, Vendini, the company that makes the business of live events simple, announced that it has acquired CrowdTorch, a consumer ticket solution and live event platform previously owned by Cvent (CVT). This acquisition will help position Vendini to grow its customer base, strategically incorporate key technologies and personnel within the Vendini solution and build patron relationships with CrowdTorch's patron-facing marketplaces for club, EDM and comedy events.
With a 70% increase in spending on live events relative to consumer spending since 1987, it's no secret that the number and variety of live events in the marketplace are growing at breakneck speed. Coupled with this increase in live event attendance and spending, the industry as a whole is seeing more and more consolidation among competitors and synergistic companies. This acquisition marks the third for Vendini, along with the acquisition of In Ticketing in 2014 and Data Flow Enterprises in 2012.
"There are companies who are eating, and there are companies who are being eaten," said Vendini CRO, Keith Goldberg. "We wanted to purchase what we believe to be a best-of-breed solution, especially one with technologies and a culture that aligns with the Vendini brand and vision. We found that in CrowdTorch."
The CrowdTorch ticketing platform will remain intact and will continue to operate and be supported under the Vendini umbrella. The engineering and support teams will also become part of the Vendini family to help develop our next generation live event solution incorporating the best of both solutions.
"We are incredibly excited about this acquisition of CrowdTorch," said Vendini CEO Mark Tacchi. "This allows us to jump further into the B2C ticketing marketplace, integrate some great technology into our solution and reach deeper into new verticals like clubs and comedy."
Founded in 2001, Vendini makes the business of live events simple. Offering a full suite for the performing arts, live music, music festival and live event spaces, Vendini is helping thousands of venues increase revenue, collect valuable data and make running an event simple. In a world of endless single-use vendors, Vendini is the first company to offer one comprehensive solution for multiple aspects of live events including ticketing, marketing, fundraising, logistics and more. Vendini is based in San Francisco, CA, with offices in Petaluma, CA, Boston, MA, New York, NY, Knoxville, TN, and Vancouver, BC.
To learn more about what the Vendini solution can do for your live event organization, please visit: https://www.vendini.com/