Ticketmaster North America’s president defined the next mission for Two Toasters, the mobile messaging app developer bought by the ticketing giant on Wednesday in a tweet.
:Redefining mobile ticketing.
So what happens to Two Toasters in the Bull City and co-founders (as well as brothers) Rachit Shukla (CEO) and Adit Shukla (Director of Creative Services.)
Suffice to say: They are not toast.
Tweeted Jared Smith of Ticketmaster:
“@ticketmaster loves toast. Super excited to work w/ @rachitshukla & @twotoasters team to redefine mobile ticketing”
While financial terms were not disclosed, the Ticketmaster-Two Toasters deal is the latest big exit for emerging and growing Triangle startups such as Digitalsmiths, Appia, Automated Insights and more.
The deal also didn’t come about as a result of Two Toasters seeking a deal.
So how did the sale come about? Was Two Toasters seeking financing? The Toasters are mum on most details, but …
“We were connected through a common contact,” Kayla Bourgeois, director of Strategic Development, for the Toasters, tells The Skinny.
“No we were not looking for a buyer, but we’ve been approached by many companies in the past and none of them were as compelling as Ticketmaster.”
The deal is good news for Durham in several ways.
In addition to bringing more attention to the Triangle’s red-hot startup community, it also means more jobs.
Two Toasters is staying in Durham; it’s co-founders will be moving back to Durham from New York where they oversaw Wall Street opportunities, and the company continues toi hire.
Headcount is at 32 and still growing.
Here’s the quick Q&A with Bourgeois:
- Will TT stay in Durham?
Yes of course! Ticketmaster realizes how important this area is as a tech hub and we plan to grow our team here.
- Are top execs staying with Ticketmaster? If so what will be titles?
Rachit will be the VP of Mobile Development and GM of Ticketmaster Mobile Studio.
Adit will be the VP of Mobile Design. In addition to them,
Josh Johnson will be staying on as the Director of Mobile Engineering, Matt Raimundo as the Director of Project Management Office (PMO), and I am now the Director of Operations.
- Please tell me who is leaving if any as a result of the deal.
An important aspect of this deal is that all Two Toasters employees are receiving offers from Ticketmaster to stay onboard. The team of experts we’ve cultivated here are all important to the success of Ticketmaster Mobile Studio.
- What does this mean for the TT leadership and employees staying on – more opportunities? More resources? New projects?
This is an exciting opportunity for our team to take on more ownership of products with a tremendous audience reach. As a client services company, our team would be working on many different client projects.
Now we can all pull in the same direction towards common goals. If we could make such great leaps and bounds with one project team working on a single app, imagine what we can accomplish as an entire team disrupting an industry.