Excite@Home Puts $15M Into Tickets.com

Share this article:
Excite@Home, Redwood City, CA, invested $15 million in sports and entertainment ticket vendor Tickets.com as the portal and Internet service provider tries to further establish itself in what it thinks will become one of the top five online commerce categories.


The net powerhouse also agreed to inject a further $40 million into Tickets.com should the deal receive regulatory approval, which Excite@Home expects within 30 days. The company leads a round of planned financing that will total $85 million. The Cox Interactive Media unit of Cox Enterprises is another investor.


Tickets.com also agreed to pay $25 million back to Excite@Home over the course of a "long-term strategic content relationship." Tickets.com will sell tickets and provide its event and ticketing information through the Excite portal and through the @Home broadband Internet service.


Officials at Excite@Home were not available for comment, but the company said in a prepared statement that the deal "underscores on two of our core strategies [of] investing financially in our partners and expanding our e-commerce opportunities with local content."


Excite@Home did not disclose how much of Tickets.com it will own following the agreements.


As part of the content relationship, Web users will be able to search for and buy tickets for events in their local areas, the company said. Excite@Home already operates a service that finds local events by zip code, and the firm operates two sites designed to let people search for information on area television and movies.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

Video's Going Programmatic, New Study Contends

Video's Going Programmatic, New Study Contends

Some 60% of brands now buy online video programmatically, according to a study from AOL's Adap.TV.

Dollar Growth Rate of Video to Peak This Year

Dollar Growth Rate of Video to Peak This ...

It will increase by 56% to $6 billion, then taper off due to growth in inexpensive mobile placements, says a new study.

Alliance Data Spends $2.3 Billion to Buy Conversant

Alliance Data Spends $2.3 Billion to Buy Conversant

CEO Ed Heffernan says the acquisition "bulks up" the digital marketing power of Alliance and its Epsilon and Loyalty One units.