"I was using Eventbrite and other products to manage events, and then realized that the technology components were missing a ton of the capabilities that I needed. What you have to do is you have to own the transaction first."
"In 2024, the company generated roughly $10 million in revenue on more than $83 million in ticket sales. Today, the business has grown to an estimated $40 million in cumulative revenue, processing $350 million in GMV and 25 million tickets since inception, with top organizers generating over $10 million on the platform."
"Posh already powers everything from Palm Tree Festival and We Belong Here to brand activations with Lamborghini, Adidas, the NBA, Celsius, HBO, and Complex. The company has also poached talent from Meta, Reddit, Amazon, Hinge, Spotify, Block, and Canva to accomplish its goals."
Posh, founded in 2019 by Avante Price and Eli Taylor-Lemire, addresses the challenge of converting casual group chat plans into organized events. The platform operates as a business-first marketplace where organizers control the experience, differentiating itself from existing solutions like Eventbrite. Posh generates revenue through a 10% cut on paid tickets plus 99-cent per-ticket fees. In 2024, the company achieved approximately $10 million in revenue from over $83 million in ticket sales. The Series B funding round of $37 million was led by FirstMark Capital with participation from Causeway Ventures, Goodwater Capital, Companyon Ventures, and Epic Ventures. Posh has processed $350 million in GMV and 25 million tickets cumulatively, with top organizers generating over $10 million individually on the platform.
Read at Fortune
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