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Company | SeatGeek | ||
|---|---|---|---|---|
| http://seatgeek.com | ||||
| Founded: | 09/14/2009 | |||
| City: | New York, New York | |||
| Country: | United States | |||
| CEO: | Russell D’Souza & Jack Groetzinger | |||
| Founders: | Russell D’Souza, Jack Groetzinger | |||
| Category: | Data/Analytics | Funding: | VC | |
| Tags: | Ticketing, metasearch | Employees: | 6-15 | |
What does SeatGeek do?
SeatGeek forecasts how sports and concert ticket prices move on secondary ticket markets like Razorgator, Ebay, and Stubhub. The company’s patent-pending algorithm is 80-85% accurate in determining how ticket prices move. SeatGeek also aggregates tickets from brokers and ticket markets, allowing consumers to easily find the best deal on tickets without visiting multiple sites
How are they different?
The resale market is a $15 Billion / year industry but there are few metasearch companies and none that focus on analytics and forecasting. By understanding how ticket prices fluctuate, users can save hundreds of dollars on ticket purchases
Why could SeatGeek be BIG?
The resale ticketing market bears resemblance to the online airline space. Metaserach has been extremely successful with companies like Kayak. SeatGeek takes its inspiration from Farecast, (now Bing.com/travel), an airline price predictor and aggregator acquired by Microsoft for $115M. Farecast forecasts how airline ticket prices move, but does not look at event ticketing
How they plan to make money:
SeatGeek earns revenue on ticket commissions. We earn an affiliate of 8-12% whenever a user buys tickets via SeatGeek. Our average transactions is ~$250 which means we earn usually around $20 in commissions / ticket purchase
Our thoughts:
No thoughts at the moment. Very interesting!
Please visit their website to learn more: http://seatgeek.com
seatgeek.com sucks. you’ll pay for tickets in one area but they give you tickets in another area. the theory is cool, but what’s the point if you don’t get what you pay for? seatgeek.com sucks.