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Patreon acquires livestream ticketed events startup Moment

Patreon is acquiring Los Angeles-based livestream ticketed event platform Moment, the company announced on Tuesday. The financial terms of the deal were not disclosed. Patreon says the acquisition will give creators on its platform a new way to share their content through ticketed digital experiences.

Launched in 2019, Moment was founded by Arjun Mehta, Nigel Egrari and Shray Bansal. The company facilities ticketed live streamed events, such as concerts or podcasts. Since its founding, the company has worked with big names like Justin Bieber and Tame Impala. The platform has raised $13.5 million in funding from investors including Halsey, UTA, Zaiko and Forerunner Ventures, according to Crunchbase.

As part of the acquisition, Moment’s employees will join Patreon and work cross-functionally with several teams, including creator and product.

“We built Moment to help artists and creators gather their global communities for premium live experiences while providing them complete control over creative and monetization,” said Moment CEO Arjun Mehta in a statement. “We are excited to join the Patreon team and deliver an even better, integrated experience to many more creators and their communities.”

Patreon plans to integrate elements of Moment into its suite of tools for creators. A spokesperson for the company told TechCrunch in an email that live streaming is one of the most requested feature by Patreon creators.

Following the acquisition, the first Moment event on Patreon will be Crooked Media’s Pod Save America Live from DC on October 19. The event will feature Senator John Fetterman, Chef Jose Andres, and candidate for the Virginia State Senate Jennifer Carroll Foy.

“Over the next decade, Patreon is setting out to build a sustainable future for creators by giving them a direct line to the people who love their work and acquiring Moment marks an important step in that journey,” Patreon wrote in a blog post. “We can’t wait to see all of the Moments our community of musicians, podcasters, comedians, and more, creates.”

The acquisition shows that Patreon is looking to enhance creators’ relationships with their fanbases, which is something the company has been pushing for over the past few months with a series of new features designed to do just that. Today’s announcement comes a week after Patreon launched new features, a redesigned app and a new brand identity. The company launched the full rollout of its Discord-like chat feature that connects creators with their fans in a group message. Patreon also announced the full rollout of a feature that it announced back in June, called “Commerce,” which allows creators to sell one-off digital goods and offer free subscriptions.

Patreon’s acquisition of Moment is its fourth acquisition in the recent past. In 2018, the company acquired Kit to let creators bundle merch in their subscriptions. Also in 2018, the Patreon acquired white-labeled subscription membership platform Memberful, which let creators sell exclusive access to content through their own site. In 2015, Patreon acquired artist subscription competitor Subbable.

source: TechCrunch