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Ballast Point Ventures Announces Successful Exit From TicketBiscuit
Tampa, FL – October 30, 2017
Ballast Point Ventures III, LP (“BPV”) is pleased to announce that it has successfully exited its growth equity investment in TicketBiscuit, a Birmingham-based online ticketing and event platform, through an acquisition by eTix. BPV invested in TicketBiscuit to help the Company grow its salesforce, bolster marketing efforts, and develop additional technology products.
Founded in 2001 by Chief Executive Officer, Jeff Gale, TicketBiscuit has a rich history of pioneering innovations in online ticketing, including mobile ticketing, seatPOWER® high-demand reserved seating, and Share and Tear® scanner-free admission control. TicketBiscuit provides a suite of ticketing software and services to music venues, comedy clubs, festivals, event centers and many other attractive niche vertical markets across the country, and experienced strong organic growth in these markets during BPV’s investment period.
Robert Faber, a Partner with BPV, served on TicketBiscuit’s board of directors prior to the acquisition. He remarked, “We are pleased to have partnered with the outstanding management team at TicketBiscuit and appreciate their excellent work in creating substantial value for all the shareholders. TicketBiscuit fits the profile of the type of well-managed, rapidly growing firms in the Southeast with which Ballast Point Ventures seeks to partner. In addition, we were pleased to be a part of helping to build a successful company in the burgeoning Birmingham technology community where our firm has deep ties and interest.”
“Our team has worked relentlessly to build and support cutting edge technology and provide the best ticketing experience on the planet, and we are pleased to see that hard work pay off in a compelling combination with eTix” said Jeff Gale, Founder and CEO of TicketBiscuit. He continued, “Ballast Point Ventures was a great partner for us at our stage of development, and we greatly enjoyed working with Robert and the team at BPV.”
Headquartered in Birmingham, AL, TicketBiscuit provides proprietary software that powers the online ticket sales of over 2,000 clients and partners across North America and around the world. TicketBiscuit’s complete suite of services and solutions empowers clients to sell tickets online through mobile optimized websites, telephone call center, and the TicketBiscuit web-based box office interface. For more information on TicketBiscuit, please visit http://www.ticketbiscuit.com
Ballast Point Ventures, headquartered in Tampa, Florida, is a later stage venture capital and growth equity firm founded in 2002 to provide expansion capital for rapidly growing, privately owned companies, with a particular emphasis on companies located in the Southeast and Texas. The BPV partners have more than 80 years of combined experience investing in and building high-growth companies in several industries, including health care, software, technology-enabled business services, communications, and consumer. BPV has $360 million under management and seeks to make initial equity investments ranging in size from $4 million to $10 million. For more information on Ballast Point Ventures, please visit http://ballastpointventures.com/