New website looks to change the game for buying sport and concert tickets
MINNEAPOLIS -- There's only two more chances to catch a Vikings game at home in the regular season, meaning tickets might be hard to find - or simply out of your price range.
But there's a new website that puts the power in the buyer's hands to find seats at a price they can afford.
TicketRev is an online marketplace for event tickets - from sports to concerts - but in reverse.
For example, Stubhub is a popular website where tickets are sold at a set price that buyers must meet. On TicketRev, buyers bid how much they're willing to pay in sections where they'd like to sit. Ticket sellers come to them to potentially accept their offer.
"On average, fans save 18% when using our platform and our name-your-price tool is a mechanism for saving money," said co-founder and CEO Jason Satsky.
The unique business model caught the eye of the Minnesota Twins and its Accelerator by Techstars program, which gives 10 start-ups from around the world resources to thrive. The companies spend about four months working at the Ford Center, across the street from Target field.
"Ultimately, we hope to be able to come up with some pilots and proofs of concept, and new ways to apply the technology all of these brilliant founders are working on," said Chris Iles, senior director of innovation and growth with the Minnesota Twins.
The startups get access and mentoring from the Techstars network to the Twins front office. For TicketRev, it's the perfect collaboration.
"We've got them plugged in with our top-ticketing folks, our VP of ticketing, our chief revenue officer to help give them an understanding of the landscape of ticketing," said Iles.
"Unfortunately not every stadium in every city sells out and teams want to have more fans in seats," said Jason Shatsky. "So figuring out how can we leverage TicketRev and demand that we have to help fill more seats in each venue."
Soon, TicketRev will launch its app - another step in its journey that's heating up in the bold north.
TicketRev also has no fees for buyers; the price you bid is the price you pay. Only sellers pay a fee.
