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Ticket Liquidator ScoreBig Hires Industry Veteran

Friday, September 27, 2013   (0 Comments)

Wall Street Journal (09/09/13) Karp, Hannah

ScoreBig recently announced the hiring of former Ticketmaster executive David Goldberg as its chief strategy officer. Goldberg says ScoreBig offers a solution to the problem of using discounts to sell unsold tickets without undercutting their perceived value or annoying season ticket holders. Fans can use ScoreBig's system to bid as low as they want on tickets, but a successful bid must exceed a minimum price set by the seller but not disclosed to bidders. Unsuccessful bidders are not allowed to bid again on the same tickets for 24 hours, to prevent them from systematically squeezing out the lowest prices possible. Goldberg intends to raise consumer awareness of ScoreBig's discounting service via alliances with companies such as United Airlines, which recently agreed to let its frequent fliers redeem their points on ScoreBig. ScoreBig has raised $32 million in several funding rounds since its inception, and backers include private-equity firm Bain Capital and media executive Shari Redstone. During his tenure at Ticketmaster, Goldberg helped develop paperless ticketing as well as the company's TicketExchange resale site. His hiring coincides with the startup's acquisition of an additional $10 million in funding from former Madison Square Garden CEO Dave Checketts, who says he has tried everything to unload surplus inventory at the last minute. "Once the game is played, that seat—and the opportunity to create value from it—is gone," Checketts notes.


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