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Shares of Eventbrite (NYSE: EB) popped as much as 11% Monday after the company said it had acquired ToneDen. As of 1:40 p.m. EST, the stock was up 6%.
Separately, news that Moderna 's COVID-19 vaccine candidate is demonstrating strong effectiveness in early trials is giving investors hope that the live event industry could soon recover.
ToneDen is an automated social-marketing platform that helps connect creators with audiences, including at live events. The start-up was founded in 2015 and has been an existing partner in Eventbrite's app marketplace since 2017.