Ticketing Startup Rival Has Been Purchased By Ticketmaster

Ticketing startup Rival "has been purchased by Ticketmaster," according to Dave Brooks of BILLBOARD. Rival, which was started in '18 by former Ticketmaster CEO Nathan Hubbard, "struggled to launch and after months of negotiations, was sold by investors." The Department of Justice in March "approved the purchase of the ticketing startup and its lucrative contract" with Kroenke Sports & Entertainment. Sources said that the purchase also "included Rival's technology and staff, minus Hubbard, who will pursue other ventures." Rival "never sold a ticket and ultimately ceded the Kroenke contract to Ticketmaster in August." KSE Vice Chair Josh Kroenke "was an investor in Rival along with Andreessen Horowitz and Upfront Ventures." All three "sold their stakes in Rival as part of the acquisition" (BILLBOARD.com, 4/11).