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SeatSmart Launches New Secondary Ticket Business, Backed by Former Rackspace Executives

Thursday, May 7, 2015   (0 Comments)

San Antonio Business Journal (02/06/15) Bailey, W. Scott

San Antonio-based startup SeatSmart is a direct broker-to-fan ticket marketplace. The company, which recently raising $750,000 in seed funding from investors, plans to provide access to hundreds of thousands of tickets to sports events, concerts, and theater events through a network of brokers at significantly lower prices than traditional secondary ticket sellers charge. "This is built out of the brokers wanting more control of their inventory," says SeatSmart CEO Brett Cohen. SeatSmart gives participating brokers price control for ticket inventories and eliminates the fees charged by competing secondary ticket outlets. "Our core pricing model is going to be substantially different," Cohen says. The company already has more than $100 million in preferred ticket inventory from participating brokers. "In a price sensitive market, better ticket prices will attract cost-conscious customers, many of whom are tired of paying excessive fees to industry incumbents," says SeatSmart investor Pat Matthews. He says traditional secondary ticketing firms are under attack from consumers and firms with new business models. "We're one of the ones attacking them," Matthews says.

 

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