N.Y.-based ticket aggregator SeatGeek has acquired rival outfit FanSnap from online shopping comparison site Nextag, bringing further consolidation into the ticket metasearch business. Financial terms were not disclosed, but SeatGeek also has closed on a $2.2M round of Series A venture capital financing, led by prior investor Mousse Partners, with the explicit purpose of helping fund the acquisition. SeatGeek will acquire the domain name, technology and related assets of FanSnap, but the FanSnap brand itself and the company's employees will not be retained by SeatGeek. Visitors going to FanSnap's site will be redirected to SeatGeek.
"FanSnap was our stiffest competition since the day we launched (in '09)," said SeatGeek co-Founder Russ D’Souza. "By bringing on their technology and audience, we will be able to further build our offerings and serve fans." Nextag purchased FanSnap two years ago for an undisclosed price, but FanSnap prior to that had raised $15.7M in venture capital funding. SeatGeek's latest funding round adds to about $4M in prior funding.
