New York-based Thuzio, a leading live and virtual event company for business entertainment, has acquired Toronto-based Robin, an entertainment platform for premium tickets and experiences.
Under the agreement, Thuzio, led by entrepreneur Tiki Barber, and former Seamless/Grubhub executive Jared Augustine, will look to scale in three key areas, including acquisition and sales, user experience, and data, along with a diversified event offering.
Financial terms of the deal have not been disclosed, however investors for the combined company include Techstars, RSE, Gary Vaynerchuk, David Falk, and Right Side Capital.
Thuzio events offer access to sports, entertainment, business and culinary icons for large sales organisations and business development professionals. Meanwhile, Robin is a corporate entertainment platform for large to mid-size companies, providing access to tickets and luxury suites.
The combined company serves sales organisations from more than 300 corporate clients, including banks, software companies, and consulting firms.
Jared Augustine, co-founder and chief executive of Thuzio, said: “Due to the explosive demand of the virtual event business we launched in the wake of the pandemic, Thuzio’s has doubled in size in 2020.
“To accelerate this growth, we’re excited to invest in our tech capabilities through this strategic acquisition of Robin. We also look forward to offering Robin’s best-in-class ticket ordering solution in anticipation of live entertaining returning.”
The virtual events industry is expected to be worth more than $750bn by 2030, according to Trends Exchange.
Adam McIsaac, co-founder and chief executive of Robin, added: “Integrating our technology into Thuzio’s ecosystem of exceptional content, events and virtual experiences will allow us to build the market-leading platform for corporate entertainment and drive growth across North America. We’re excited to work with Thuzio’s stellar team to take our collective vision to the next level.”
Tiki Barber, co-founder of Thuzio, said: “With a ‘new normal,’ businesses must think differently about how to win client attention and secure new business.
“Our virtual ‘Thuzio Originals’ owned events, bespoke Custom Events, and sponsored Partner Events are immersive, easily accessible and unforgettable, while boasting legendary A-list talent. We aim to capitalise on this virtual entertainment industry upswing by enhancing our platform with Robin.”