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Eventbrite Wants to Kill Square, Too

The space is getting saturated


The hot online ticketing company Eventbrite has launched a credit card reader for Apple’s (NASDAQ:AAPL) iPad and iPhone. The application allows entertainment venues to easily take payments, and Eventbrite CEO Kevin Hartz calls it a “mobile box office.”

But there’s a problem: The space is getting saturated. Just last week, eBay (NASDAQ:EBAY) announced its own card reader, and the space includes other larger rivals such as Intuit (NASDAQ:INTU) and VeriFone (NYSE:PAY).

All of this is bad news for the innovator in the market, Square. The mastermind of the company is Jack Dorsey, who is the co-founder of Twitter. Last summer, he raised a cool $100 million for the company and even got Richard Branson as an investor.

But with the onslaught of competition, Square’s $1 billion valuation looks a bit dicey — and so do the prospects for an IPO.

— Tom Taulli, InvestorPlace


Article printed from InvestorPlace Media, http://investorplace.com/ipo-playbook/eventbrite-wants-to-kill-square-too/.

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