Introduction to Fever’s Latest Acquisition
Fever, a live event platform, has announced its acquisition of the ticketing service DICE. The financial details of the purchase have not been disclosed. This news comes just a day after Fever announced a $100 million financing round led by L Catterton and Point72 private investments.
What the Acquisition Means for Fever
The co-founders of Fever, Ignacio Bachiller, Alexandre Perez, and Francisco Hein, stated that the acquisition strengthens their position as a leading global tech player for culture and live entertainment. They emphasized their mission to prioritize fans and provide partners with innovative tools. At Fever, they believe that data and technology can enhance the live music experience, making it more accessible, personalized, and enjoyable for fans, artists, and venues.
About DICE
DICE was launched in 2014 as a fan-friendly ticketing service. It offered features such as all-in-ticket prices and concert discovery functions in its app. In 2023, DICE raised $65 million in investments from prominent music managers, including Matt Pincus and Willard Ahdritz. The company has more than doubled its ticket sales in the past two years, with over 10 million monthly active fans.
The Benefits of the Acquisition
Through the acquisition, DICE will gain access to Fever’s technology, expanding its reach to 40 countries where Fever operates. This partnership will enable DICE to scale faster, reach new cities, and deliver a better experience for fans. Phil Hutcheon, founder and CEO of DICE, expressed his enthusiasm for the acquisition, stating that both companies share a common ethos of prioritizing fans and improving the live event experience.
The Deal
Liontree Advisors LLC acted as the financial advisor for the deal, while Wilson, Sonsini, Goodrich & Rosati LLP represented DICE. Davis Polk and Wardwell LLP and Morrison and Foerster LLP served as Fever’s legal advisors. The acquisition marks a significant milestone for both companies, solidifying their commitment to providing exceptional live event experiences for fans worldwide.
