Square Partners With Eventbrite

Some thoughts on Square’s recently announced partnership with Eventbrite:

Investors in Square Inc (NYSE:SQ) have enjoyed a remarkable year. Shares in the innovative payment processing company are up a remarkable 152% over the past year, crushing the S&P 500’s paltry-by-comparison 17% gains. Square’s stock has skyrocketed as the market has witnessed its resounding success, growing its business quarter after quarter. In its most recently reported quarter, for instance, Square’s gross payment volume increased 32% year over year to $16.4 billion and its adjusted revenue increased 41% to $240 million.

Square recently announced what should be another catalyst for its business: a strategic partnership with the event-planning platform, Eventbrite. As part of the agreement, Square will power all of Eventbrite’s payment processing, including mobile, online, and in-person payments. Square also invested $25 million into Eventbrite. In the press release, Alyssa Henry, Lead Seller at Square, made the case that the partnership was a natural fit for both companies:

“Eventbrite’s global network of event creators have the same entrepreneurial spirit and drive as the millions of sellers who run their businesses on Square. We’re thrilled to bring Square’s payments technology to Eventbrite. As the lines that separate online and offline business fade, we look forward to helping them further simplify all aspects of commerce, so they can stay focused on their core business of powering great live events.”

Read the entire article at https://www.fool.com/investing/2017/10/16/square-inc-partner…

Matt
Long SQ
MasterCard (MA), PayPal (PYPL), Skechers (SKX) and Square (SQ) Ticker Guide
See all my holdings at http://my.fool.com/profile/CMFCochrane/info.aspx

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