What happened 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. So what 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. Image source: Eventbrite. "Building audiences and engaging ticket buyers is critical to all creators' successes, and Eventbrite believes that creators will rely on solutions that address these needs more than ever once it's safe for in-person events to resume," the company wrote in a blog post. "In fact, 80% of Eventbrite creators surveyed identified marketing as a top need for their business." Now what Roughly half of paid ticket volumes in 2019 were sold through Eventbrite's self-service channel, making ToneDen a complementary offering with its self-service marketing tools that are designed to help creators reach people. Eventbrite's recovery strategy includes reinforcing its position as a self-service technology platform for event creators. Financial terms were not disclosed. Eventbrite said the acquisition is effective immediately but will not have a material impact on financial results anytime soon. Eventbrite is scheduled to participate in a tech investing conference hosted by RBC Capital Markets on Wednesday. 10 stocks we like better than Eventbrite, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Eventbrite, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool recommends Eventbrite, Inc. The Motley Fool has a disclosure policy.Source