Pandora To Acquire Ticket Seller Ticketfly

Pandora Media Inc. has agreed to acquire TicketFly, a ticket-selling and marketing software company, for about $450 million in nearly equal parts cash and stock. Founded in 2008, Ticketfly serves about 1,200 venues and event promoters across North America, including Burning Man and the Pitchfork Music Festival. In 2014, the company sold 16 million tickets to more than 90,000 live events and generated more than $1 billion in cumulative transaction volume. Pandora has nearly 80 million monthly active users. Pandora also plans to use the combined data from the two companies to create money-making tools for musicians and improve recommendations for users. Pandora stock is up 46.9% over the past three months. The S&P is down 4.9% for the same period.