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Canadian Company's Ticket to the World

Thursday, March 26, 2015   (0 Comments)

Toronto Star (Canada) (03/06/15) Pelley, Lauren

Canada-based Intellitix needs an infusion of capital to sustain its growth as demand outpaces supply, with the firm expecting to triple the total number of events it currently provides ticketing systems to this year. "Until very recently, we had more time zones we were working on than there are people working in the company," says Intellitix CEO Serge Grimaux. "It creates a little stress." Intellitix's business model is to work with ticketing companies to supply radio frequency identification-enabled devices such as cards or bracelets that grant attendees admission to events. Among the system's benefits are giving events the means to launch cashless payment systems, interact with attendees on social media, and collect data about audiences. Intellitix has in the past four years worked with major music festivals such as Bonnaroo, Lollapalooza, and Digital Dreams, sporting events such as the PGA Irish Open, and food and drink expositions that include the Taste of Toronto. "Within the past 12 months, we experienced a 20-fold increase in cashless transactions with over 4 million cashless transactions made, totaling more than $50 million U.S. dollars in on-site spending in 2014 alone," Grimaux notes. Intellitix's Eric Janssen forecasts a doubling of the company sales team as well as more equipment acquisitions and both public and private attempts to raise capital in the coming months.

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