DICE, the UK-based ticketing platform, has been purchased by Fever, a platform focused on discovering live events.
This announcement comes in the same week Fever, which was last valued at $1.8 billion in 2023, secured an additional $100 million or more in equity funding.
While Fever did not disclose the acquisition price, the confirmation follows a report from Bloomberg about a year ago indicating that DICE was in advanced negotiations to sell a substantial stake, potentially valuing it at “hundreds of millions of dollars.”
To date, DICE has raised over $200 million in funding, including a $65 million round in August 2023, led by MUSIC, the investment firm co-founded by Matt Pincus and LionTree. Other participants in this round included StructuralCapital and Ahdritz Holding LLC, the investment entity for Willard Ahdritz, founder and chairman of Kobalt Music.
In 2021, DICE raised $122 million during its Series C round, led by SoftBank Vision Fund 2. Other contributors included iPod inventor and iPhone co-creator Tony Fadell’s Future Shape, Blisce, French entrepreneur Xavier Niel, Mirabaud, Cassius, and Evolution.
The collaboration between DICE and Fever was announced on Thursday (June 5), with aspirations to create “the world’s leading independent live entertainment tech platform.”
Fever states that its audience spans over 40 countries and engages 300 million people through its discovery platform and media.
Fever partners with music entities such as Primavera Sound, Fabrik, Last Tour, Cercle, and TCE Presents. DICE collaborates with venues, festivals, and promoters like Club Space, Newport Jazz and Folk Festival, Sonar, London’s Alexandra Palace, and Rough Trade worldwide.
DICE has reported that it has “more than doubled its ticket sales” in the past two years, exceeding 10 million monthly active users.
Phil Hutcheon, Founder & CEO of DICE, commented on the deal: “Since the inception of DICE in 2014, we’ve remained committed to our mission of encouraging people to get out more by continuously improving the fan experience.”
“Joining forces enables us to scale even quicker. Expanding to new cities, helping to sell out more shows, and delivering a seamless experience that fans anticipate.”
Phil Hutcheon
Hutcheon further stated: “From our personalized Discover feature to our transparent, all-in pricing and Waitlist feature, we have always prioritized fans. That same principle is what we’ve encountered with Fever.”
“Our partnership allows us to expand at an even faster rate. Entering new cities, assisting in selling out additional shows, and providing the smooth experience fans expect.”
Fever announced on Wednesday (June 4) that it secured over $100 million in equity funding from private equity firms L Catterton and Point72 Private Investments, along with contributions from “existing investors.”
Notably, existing investors include Goldman Sachs, which led a $227 million investment round in 2022 — labeled by Fever as “the largest ever” for a live entertainment tech startup — as well as a $110 million round in 2023 that established its $1.8 billion valuation.
The company did not revise its valuation in the announcement of the latest funding round. According to data from Tracxn, Fever has raised a total of $527 million in funding, including the most recent round.
Founded in 2014, Fever has made significant strides.
Commenting on the acquisition, Fever Co-Founders Ignacio Bachiller, Alexandre Perez, and Francisco Hein remarked: “Together, we are reinforcing our position as a leading global tech player in culture & live entertainment.”
“We are united in our mission to prioritize fans and offer our partners the best and most innovative tools.”
Ignacio Bachiller, Alexandre Perez and Francisco Hein, Co-Founders, Fever
They added: “We are committed to putting fans at the forefront and equipping our partners with the best and most innovative tools.
“At Fever, we believe that data and technology can enhance the live music experience, making it more accessible, more tailored, and ultimately more impactful for fans, artists, and venues alike.”
Earlier in the year, DICE sold its music platform Boiler Room to Superstruct Entertainment, a European live music powerhouse.
DICE had acquired Boiler Room, an electronic music-focused livestream platform, in 2021, shortly after announcing it had raised $122 million in Series C funding.Music Business Worldwide
