From the beginning, Twenty’s goal has been to get young people off of their phones and out in the real world with their friends. Twenty connects consumers with their friend groups and makes them browse fun know-hows, from concerts to athletics sports to movies, with an easy UI for coordinating a group and establishing it happen. In detail, Twenty has forged relationships with orgs like Live Nation, Endeavor, Roc Nation and Tao, which collectively create 10,000+ happens a year with an public of more than 100 million fans.
Mappen, on the other hand, is a location-based social network that tell customers share what they were doing( and where they were doing it) with their friends. For pattern, consumers could apply a status inform use a Fortnite emoji labelled to their house, inviting friends to come over and play a few games.
The two companies have been in talks, and collaborating, for the past nine months looking for ways to bring its own experience together. Where Twenty has relationships with experience providers, Mappen had the audience of young people looking to connect with each other.
The end result is an all-stock deal that federates the user experience under the Twenty brand name.
Though the announcement of the merged app didn’t go down until today, the two apps have been combined for a while, and CEO Diesel Peltz says the brand-new app has verified 33% month over month growing in brand-new users. Hangouts have increased 50% from July to August. Peltz will guide the blended company as CEO.
For now, the new Twenty does not have a business model in place. However, the design is to use the event partnerships to generate revenue as opposed to ads, which relies on eyeballs on screens.
” If the representation is solely based on ads, you require the users to devote as much time on the pulpit as is practicable ,” said Peltz.” We’re looking to create a different the possibilities for parties to access these experiences .”
Thus far, the blended Twenty has raised nearly $40 million from partners, including Accel, Maveron, 500 Startups and Sound Ventures, as well as Roc Nation, Live Nation and Endeavor.