Greenlite Venture Signs Letter of Intent to Acquire TicketBash.com
Rhea-AI Summary
Greenlite Ventures (OTC Pink:GRNL) has signed a non-binding Letter of Intent to acquire TicketBash.com, an emerging technological leader in the live event ticket market founded in 2016. The acquisition aims to establish GRNL in the $36 billion live event ticket market while helping TicketBash.com scale operations and reduce costs.
GRNL plans to integrate its expertise in voice recognition, AI-driven bots, peer-to-peer algorithms, and transactional AI to enhance TicketBash's platform, aiming to deliver real-time pricing and availability with minimal human interaction. The company intends to create a standalone division for TicketBash.com, focusing on leveraging advanced AI technologies to revolutionize the transactional marketplace while expanding revenue streams and profit potential.
Positive
- Entry into $36 billion live event ticket market
- Potential for operational cost reduction through AI integration
- Technology synergy between GRNL's AI capabilities and TicketBash's platform
- Expansion of revenue streams through new market entry
Negative
- Non-binding nature of the LOI indicates deal uncertainty
- Integration costs and timeline not specified
- No financial terms or valuation disclosed
News Market Reaction
On the day this news was published, GRNL gained 17.73%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
LOS ANGELES, CALIFORNIA / ACCESS Newswire / February 6, 2025 / Greenlite Ventures, Inc. (OTC Pink:GRNL) has announced the signing of a non-binding Letter of Intent (LOI) to acquire Grand Concierge LLC, d/b/a TicketBash.com. Founded in 2016 by industry veteran Vincent Grieco, TicketBash.com is an emerging technological leader in the live event ticket market. Greenlite intends to create a standalone division for TicketBash.com. This strategic acquisition aims to establish GRNL as a technological leader in the
GRNL's highly successful developmental experience with voice recognition, AI-driven bots, peer-to-peer algorithms, and transactional AI is expected to play a pivotal role in propelling TicketBash.com to new heights in both revenue and profitability. Greenlite's AI development team believes that the TicketBash platforms will soon be able to deliver the most efficient, up-to-the-second pricing and availability in the industry with virtually no human input or interaction required.
"This acquisition underscores our commitment to leveraging advanced AI technologies to revolutionize the transactional marketplace while expanding our revenue streams and profit potential," said Rafael Groswirt, CEO of Greenlite Ventures, Inc. "We are excited to collaborate with the visionary team at TicketBash.com and believe that this partnership will transform the live event ticketing experience for consumers."
"We're thrilled to announce the signing of this Letter of Intent, marking the beginning of a game-changing partnership. This milestone reflects a bold shared vision, which we believe will unlock limitless opportunities for growth, innovation, and leadership in the ticketing marketplace," said Vincent Grieco, CEO of TicketBash. He continued, "Together, we're positioned to redefine the industry, capture new markets, and deliver significant value to our customers, partners, and shareholders. The future has never looked brighter, and we can't wait to bring this vision to life!"
About Greenlite Ventures, Inc.
Greenlite Ventures, Inc. (OTC Pink:GRNL) is dedicated to developing transformative software and AI solutions across various industries. Greenlite Ventures is at the forefront of technological innovation, creating numerous merger and acquisition opportunities that can further drive growth and value for its stakeholders.
About TicketBash.com
TicketBash.com, founded in 2016, is a technology-driven ticketing company leveraging AI-powered tools to provide real-time ticket pricing and seat availability. With an experienced leadership team and partnerships with renowned technology providers like SVAM International, TicketBash.com is poised to disrupt the event ticketing industry and achieve significant growth in the years ahead.
Website: https://www.greenliteventures.com
Website: https://www.ticketbash.com
SAFE HARBOR STATEMENT
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, and technological risks pertaining to the Company's business may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. No information in this publication should be interpreted as any indication whatsoever of the Company's future revenues, results of operations, or stock price.
Contact Information
Jeff Deforrest
Communications Director
ir@greenliteventures.com
954 288 4725
SOURCE: Greenlite Ventures, Inc.
View the original press release on ACCESS Newswire
FAQ
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