Sports And Entertainment Payment Solution Provider Bypass Closes Strategic Investment From eBay
AUSTIN, Texas, April 10, 2013 /PRNewswire/ -- Bypass, a company simplifying commerce for sports and entertainment properties, finalized a strategic investment from eBay, Inc. The aggregate proceeds bring the total amount raised to over $3.5 million. The announcements were made today by Bypass President, Brandon Lloyd.
Bypass will use the proceeds from the funding to accelerate its technology development and deployment. Today Bypass provides modern commerce and point-of-sale (POS) solutions for clients in the NFL, NBA, NHL, MLS, NCAA, MiLB, universities and regional music venues. The payment software is designed to meet the complex needs of high volume environments.
"This investment is our most strategic to date," said company President Brandon Lloyd. "It signifies product validation from eBay and positions Bypass to upgrade and extend more than 200,000 commerce entry points in the sports and entertainment marketplace."
Today, Bypass President Brandon Lloyd also named Casey Wasserman, Chairman and Chief Executive Officer of Wasserman Media Group to the company's board. He joins Bypass board members Rod Favaron (Spredfast), Todd Sims (AEG), and Reese Ryan (Ryan-Sanders Baseball).
The Pepsi Center, located in Denver, Colorado and home to the Nuggets and Avalanche, recently deployed Bypass to enhance in-seat service for more than 3,000 seats. "For our premium guests, we sought a premium solution. Bypass created a modern commerce experience for the guest and has generated a positive return on investment in less than a month," said Dave Jolette, Senior Vice President of the venue.
"Many POS systems are antiquated hardware deployments acting as electronic registers. In our view, these are strategic assets that should easily communicate with the online world to interact with sales, marketing, and service functions of a sports property," said Jonathan Spies, Vice President Engineering.
ABOUT BYPASS MOBILE
Bypass simplifies commerce for sports and entertainment properties. Our solutions are guided by the core principle that improving payments is best achieved through software, not hardware. We pair the latest tablet technology with software tailored to the challenges of high volume, high complexity operations. The company implements fixed and mobile solutions supporting concessions, merchandisers, suites, club seats, portables, dessert carts, and hawkers. Founded in 2010, the company is upgrading payment solutions for the NFL, NBA, NHL, MLS, NCAA, MILB and regional music venues. Learn more at www.bypassmobile.com.
ABOUT EBAY, Inc.
Founded in 1995 in San Jose, Calif., eBay Inc. is a global commerce platform and payments leader connecting millions of buyers and sellers. We do so through eBay, the world's largest online marketplace, which allows users to buy and sell in nearly every country on earth; through PayPal, which enables individuals and businesses to securely, easily and quickly send and receive digital payments; and through GSI, which facilitates ecommerce, multichannel retailing and digital marketing for global enterprises. We also reach millions through specialized marketplaces such as StubHub, the world's largest ticket marketplace, and eBay classifieds sites, which together have a presence in more than 1,000 cities around the world. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
ABOUT WASSERMAN MEDIA GROUP:
Founded in 2002, Wasserman Media Group is a global sports, entertainment marketing and management company with expertise in media rights, corporate consulting, athlete management and partnerships. Wasserman is headquartered in Los Angeles and also has operations in New York, London, Mumbai, Sao Paulo, Miami, Toronto, Raleigh, N.C., Carlsbad, CA and Singapore. For more information please visit www.wmgllc.com.
ABOUT THE PEPSI CENTER
Pepsi Center, one of the nation's finest sports and entertainment facilities, represents the best of Colorado and the Rocky Mountain West. Clear sightlines. Dramatic views. Open space. Privately owned and operated, groundbreaking for Pepsi Center took place on November 20, 1997. Since opening October 1, 1999 with a sold-out performance by Celine Dion, Pepsi Center has hosted a wide variety of events including hockey and basketball games, musical acts, ice extravaganzas and circuses.
Brandon D. Lloyd