The hot new Madrid and London-based start-up Fever has emerged as the live events platform with Netflix like capabilities when it comes to content personalization for the user, and for event managers looking to build successful, data-driven live experiences.
That is the marketing pitch, at least - and we love, love, love the brand and user experience.
The company uses (surprise, surprise) algorithms and data science to personalize content and to help shape product with data pulled from its built-in Secret Media Network, that it in turn uses to help event planners design custom live events via the Fever app.
The app now claims to have over 25 million users and will use the new funds for R&D and for expansion.
Fever makes money by charging event organizers commission based on attendance and “uplift” attributable to its platform. The company claims revenue grew 100% year-over-year after expanding into new markets including Lisbon, L.A. Manchester, and Paris - although no mention of the base from which this growth came from. Total listings are in the ten thousand range with a reach of more than twelve million users per week.
Japanese internet giant Rakutan led the latest round. Other backers included Atresmedia, Accel and Michael Zeisser, the former chairman of U.S. investments for Alibaba Group. including. Total raised is now US$70 million.
Bookable experiences, the kind that platform apps like Fever can monetize, come in various shapes and sizes. In the travel & tourism space, the phraseology is “tours & experiences”, which mostly involves canned and scheduled day tours and now multi-day all-inclusive trips like the recently launched Airbnb Adventures.
The experience economy has caught the attention and imagination of big tech and the investment community. Funding is at an all-time high for platforms that are cataloging and digitizing bookable experiences.
Google loves bookable experiences as well. The platform has, over the last 2-3 years, incorporated the Explore tab into Google Maps and Google Search. It works with and relies on connectivity partners such as FareHarbor owned by Booking Holdings, TripAdvisor, Get Your Guide, Eventbrite, and many others to essentially rewire the local economy. Everything from haircuts to local events are becoming bookable via Google Maps.
The Reserve with Google (check out our deep dive available in the luft.net insights portal) feature is Google’s way to shore up more more advertising revenue via the Google my Business listing.
What we like about Fever is that it leverages its own content (The Secret Media Network) to add data and ultimately value to event managers. This builds a direct relationship between the platform and paying clients - something difficult to duplicate via aggregation engines, even one as powerful as Google.