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Tech Industry

Excite@Home invests in Tickets.com

The firm announces it is investing $15 million in Tickets.com, with a plan to invest another $40 million within a month.

Excite@Home today said it is investing $15 million in Tickets.com, with a plan to invest another $40 million within a month.

In turn, Tickets.com, under a long-term agreement, will pay Excite@Home $25 million to carry Tickets.com's localized event, venue, ticketing, and buying information on the Excite portal and through the @Home high-speed cable Net access service, the companies said.

Redwood City, California-based Excite@Home is the lead investor in privately held Tickets.com's $85 million round of financing, to be announced today. Joining Excite@Home is Cox Interactive Media, a subsidiary of Cox Enterprises that is also an investor in Excite@Home.

@Home executives said in a statement that the deal will provide its customers with detailed, easy-to-find information for thousands of events, as well as the ability to buy tickets through the Excite service. On the @Home end, broadband service users will be able to view video of performing artists before deciding whether to buy tickets.

Tickets.com, which owns the 1-800-TICKETS phone number, competes with Ticketmaster Online-CitySearch, which sells tickets for more than 3,000 venues. Last month, Ticketmaster Online-CitySearch bought the city guide portion of MSN Sidewalk.

Tickets.com merged with ticketing software and sales company Advantix in January.

Tickets.com's ticket-buying service will be added to other entertainment content found on the Excite portal such as Event Finder, which finds local events by zip code, and "movies.excite.com" and "tv.excite.com," which offer local entertainment information, the companies said.

The market for live event tickets on the Web is small but growing fast. The online market for tickets to events, attractions, and travel is projected to grow from $475 million in 1997 to more than $10 billion in 2001, according to Forrester Research.