LAS VEGAS and LONDON, April 12, 2018 /PRNewswire/ -- Verve, one of the most ubiquitous brands in word of mouth marketing, today announced the acquisition of US-based student travel company JusCollege. The acquisition, valued at $25M including ongoing incentives, instantly expands Verve's area of focus in music and sporting experiences to include trips to the top 40 US student destinations. Verve is partnered with the world's top ticketing providers including Ticketmaster, Eventbrite, Paylogic and Front Gate Tickets along with its existing client base of over 500 music and sporting events including Insomniac, C3 Presents, Bonnaroo, React Presents and Reading and Leeds.
Verve has raised over $35M in venture funding to date. The acquisition is part of Verve's strategy to expand its invite-only marketplace Pollen to the US, after a successful launch earlier this year in the UK. Pollen enables its members, influential young people, to choose from a variety of experiences and sell them to their friends in exchange for rewards such as tickets, trips and backstage passes.
Verve was founded on the basis that word-of-mouth generates more sales than traditional models, particularly among 16-25 year olds. According to McKinsey & Co., word of mouth sales generate more than twice as many sales as paid advertising, while Nielsen reports that 77% of consumers are more likely to buy a new product when learning about it from friends or family. These recommendations are powerful because they allow for two-way, tailored conversations based on knowledge and trust that happen in places that brands can't reach.
Say the Negus-Fancey brothers, Callum and Liam, who founded Verve, "This is an important step in realizing our vision to build the best buying experience for young people by enabling them to purchase from the brands they love through people they know and trust. We are very excited to bring the JusCollege team on-board. Not only have they built a successful company that sells tens of thousands of student travel packages a year, but like us, they created a brand built on the power of advocacy, demonstrated by their 5* customer reviews and unprecedented influence within the US college system."
According to JusCollege founders Andrew Citores and Bo Thede, "Our goal has always been to create amazing experiences for consumers with memories that last a lifetime. We are thrilled to finally make this dream a reality by joining Verve. Whether it's a weekend at their favorite music festival, a trip to Mexico during spring break, or a Friday night football game, our members can promote their most memorable experiences to their friends and be rewarded for it. We're looking forward to continuing our journey as part of the Verve team!"
For more about Verve please visit https://verve.co/.
Founded in 2013 by brothers Callum and Liam Negus-Fancey, Verve is the global market leader in word-of-mouth sales in the live entertainment space. In 2018 Verve acquired American student travel company JusCollege. Verve has partnerships with ticketing companies including Ticketmaster, Eventbrite, Paylogic and Front Gate Tickets and works with leading music and sports brands including Insomniac, C3 Presents, Bonnaroo, and React Presents. Verve has raised $35M in venture funding to date.
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