Mastercard acquired and shut down IfOnly, an experiences marketplace hit by Covid-19

Mastercard acquired and shut down IfOnly, an experiences marketplace hit by Covid-19

4 years ago
Anonymous $UzyKJJH9oy

https://techcrunch.com/2020/08/24/mastercard-acquired-and-shut-down-ifonly-an-experiences-marketplace-hit-by-covid-19/

Travel has undoubtedly been one of the industries hardest hit in the coronavirus pandemic, constrained by restrictions on how people can move between and within countries, many venues closing, new rules to minimise gatherings, shrinking economies, and a general reluctance among consumers to engage in getting out and about. One startup in the space has been acquired in the wake of that.

IfOnly — an “experiences” marketplace based around access to exclusive, and often expensive, events and people, with a portion of the proceeds that a guest pays for the experience going towards good causes — was quietly acquired and shut down by credit giant Mastercard for an undisclosed sum. Mastercard told TechCrunch that it has folded the tech and team into Priceless — its own experiences marketplace — after initially leading a strategic investment in the company in 2018.