Square teams with Eventbrite

Square has struck an agreement to process payments for ticketing service Eventbrite and made a strategic investment in the startup, part of the San Francisco digital payments company’s push into online commerce.

Square invested $25 million in Eventbrite, which lets event organizers sell tickets and promote and manage events. Eventbrite, whose customers include the Tribeca Film Festival and Maker Faire, said it processes 2 million to 3 million tickets each week and expects to facilitate more than $4 billion in gross ticket sales this year. Square will handle Eventbrite’s online, mobile and in-person payments for countries where Square does business.

Square’s stock has more than doubled in the past year as investors gain confidence in its long-term growth path. When the company was cofounded by Chief Executive Officer Jack Dorsey, who also runs Twitter, it focused on selling smartphone plug-ins that helped individuals, food trucks and farm-stand vendors accept credit cards.

Since then, it has gained ground with bigger merchants with its all-in-one offering, freeing them from having to stitch together services from different vendors. With Square, Eventbrite’s users can analyze sales data from a single platform, whether they’re selling tickets online or merchandise at an event.

“Online is a natural extension of Square because its offline retail clients are online also,” said David Ritter, an analyst at Bloomberg Intelligence.

Eventbrite, also based in San Francisco, raised $60 million in 2014 at a $1.2 billion valuation, according to PitchBook Data Inc. Its investors include Sequoia Capital, Tiger Global Management and T. Rowe Price.