International live entertainment and ticketing firm TEG has taken a majority stake in three-year-old Sydney startup FAN+.
Terms of the deal were not disclosed.
FAN+ was founded in 2019 by ex-Sydney Kings CEO Rod Harry, with its first accelerator as the Qantas AVRO accelerator and the following year as the sports-focused HYPE accelerator.
FAN+ is a marketplace. Connecting sports fans with clubs and sports stars to buy a variety of experiences, from coaching to well wishes. At VC Artesian and several Australian dignitaries including hotelier Dr Jerry Schwartz, Pacific Equity Partners founder Rickard Gardel, Seven West Media James Warburton, Andrew Burns, Greg Bundy, Scoop Australia founders Craig Carcher and Stephen Gaitanos and Sydney Kings legend and Hoyts boss Damian Keogh. .
Sydney-based TEG, which owns Ticketek, was bought by US private equity firm Silver Lake three years ago. CEO Geoff Jones is looking to expand its live content offerings to include concerts, sporting events and theaters, and FAN+ is the next evolution of the company’s business model.
“At TEG we believe nothing beats the live experience and being able to personalize that live experience with FAN+ in the moment is the perfect extension of our offering,” he said.
FAN+ integrates with Ticketek, offering personalized FAN+ experiences such as stage tours, seats at pre-show sound checks, opening night launch parties, or coin tosses at kickoff.
Harris said the acquisition will allow the business to scale up and give fans access to a whole new world of personal entertainment.
“Ticket’s scale and Geoff Jones’ leadership to have the support of TEG is a game changer for FAN+,” he said.
“Being part of the TEG family means we can showcase our offerings in terms of audience reach and have access to some pretty mind-blowing personalized entertainment options. Fans are in for some pretty special moments!”