Under the agreement, TickPick will use its software to host TicketIQ’s marketplace, while TickPick’s user data will be integrated into FanIQ, a data-marketing platform recently launched by TicketIQ.
There’s no upfront money changing hands in the deal. Instead, the two sides will share revenue from ticket-selling.
“TickPick’s commitment to a no-fee platform, combined with their large base of loyal shoppers, makes them the ideal partner for both TicketIQ and FanIQ,” TicketIQ founder Jesse Lawrence said.
Maintaining a ticket marketplace can be expensive and time-consuming. Access to TickPick’s software will allow TicketIQ to focus more on its core business—data—which helps its partners sell tickets, and in college sports, boost fundraising efforts.
FanIQ, launched in October, is the newest iteration of the company’s data-marketing efforts. The platform already contains user profiles for more than 40 million sports and music fans. That will increase with the integration of information from TickPick, which has millions of monthly users.
TickPick was founded in 2011 as a no-fee marketplace (other larger platforms have buyers and sellers fees that can be as high as 30%). The company, which purchased Razorgator and Rukkus in 2018, sold $250 million in tickets in 2019. Adding TicketIQ’s marketplace, which has also been no-fee for about a year, will increase the number of tickets sold through TickPick’s software.
“We’re really excited about the unique FanIQ partner supply that they plan to bring to TickPick and the opportunity to expand our platform’s reach and drive incremental revenue from both TicketIQ and FanIQ,” Paul Jones, TickPick’s vice president of business development, said in an email.
In addition to the data part of the partnership, TicketIQ’s marketplace could see added inventory moving forward. TickPick is one of the companies that integrates with SeatGeek Open, a primary ticket network that currently works with 12 pro teams, including the Dallas Cowboys, Cleveland Cavaliers and Portland Timbers. TicketIQ will now have access to those listings.
(This story has been updated to clarify the financial agreement in the third paragraph.)