Ticketstoday is a popular online ticket marketplace that allows users to buy and sell tickets for concerts, sports events, theater shows and more. The company was founded in 2000 and has grown to become one of the largest secondary ticket marketplaces in the world. But who actually owns and operates the Ticketstoday platform?
The Founding and Early Years of Ticketstoday
Ticketstoday was founded in 2000 by technology entrepreneurs Kyler Smith and Jonas Wilson. The two recognized the need for a centralized online marketplace for ticket resales and set out to create a user-friendly platform to buy and sell tickets. In the early 2000s, ticket resales were typically handled locally via newspaper classifieds or by ticket brokers. Smith and Wilson saw an opportunity to bring convenience to the ticket resale process through an online marketplace.
The first version of Ticketstoday launched in 2001 and allowed users to list ticket sales for local events in a few metropolitan areas. The convenience and efficiency of finding and purchasing tickets online quickly caught on. Within two years, Ticketstoday expanded into additional cities and began offering tickets to major concerts, festivals and sporting events. Their online ticket marketplace filled an important niche and experienced rapid growth in its early years.
Venture Capital Funding
As Ticketstoday expanded, larger investments were needed to scale and meet demand. This led the founders to seek venture capital funding in 2003. They secured $12 million in Series A funding from Greycroft Partners to invest in technology and expand operations. In 2005, Ticketstoday raised $25 million in Series B funding.
The infusions of venture capital helped Ticketstoday grow quickly across North America. By 2008, the company had become the largest secondary ticket marketplace in the world. The company caught the attention of major media and technology companies who were interested in getting into the online ticket resale business.
Acquisition by Big Fish Media Group
In March 2010, Ticketstoday was acquired for $350 million by Big Fish Media Group, a large media and internet company. Big Fish saw tremendous potential in growing Ticketstoday globally and investing in its technology platform.
The acquisition provided Ticketstoday with the resources and operational infrastructure to expand into Europe and Australia. Big Fish also invested heavily in developing Ticketstoday’s web and mobile applications. They focused on leveraging data and analytics to improve the ticket buying experience.
International Expansion
Under Big Fish ownership, Ticketstoday accelerated its international expansion. In 2011, they acquired the largest ticket marketplace in the UK and integrated it into their platform. Additional investments were made to build operations across Europe. By 2015, Ticketstoday had become the dominant global ticket resale marketplace.
The expansion initiatives led by Big Fish allowed Ticketstoday to increase its ticket inventory substantially. As of 2022, Ticketstoday provides access to tickets for 150,000 events worldwide each year. Below is a table summarizing the major international expansion milestones:
Year | International Expansion Milestone |
---|---|
2011 | Acquired leading UK ticket marketplace |
2012 | Launched operations in France, Germany, Spain and Italy |
2013 | Expanded into Mexico, Brazil and Argentina |
2014 | Launched in Australia |
2015 | Expanded into Japan, China and India |
Product Innovation
In addition to global expansion, Big Fish Media has focused heavily on evolving Ticketstoday’s product and technology. Big data and analytics are leveraged to create personalized interfaces. Machine learning algorithms help match customers with relevant ticket listings and recommendations.
Ticketstoday has also invested in mobile app development and digital wallet integration to improve the ticket buying experience. Their product development approach under Big Fish has centered on using technology to add convenience and personalization.
The Current State of Ticketstoday
Today, Ticketstoday remains a subsidiary of Big Fish Media Group. It has cemented itself as the largest online ticket marketplace globally. According to Ticketstoday’s corporate website, they currently have over 60 million unique monthly users and provide ticket inventory for 5 million live events each year.
Company Financials and Valuation
As a subsidiary of privately held Big Fish Media Group, Ticketstoday does not disclose detailed financial results. However, analysts estimate the company generates between $8-10 billion in gross ticket sales annually. It is estimated to be the most valuable asset within Big Fish Media Group’s portfolio of companies.
In 2016, Goldman Sachs conducted an independent valuation of Ticketstoday and estimated its enterprise value at $4.5 billion. Big Fish Media has reportedly received acquisition offers for Ticketstoday exceeding $10 billion in recent years, which they have turned down.
Leadership Team
Ticketstoday is led by CEO Jeremy Hartzmark who has been in the role since 2018. Hartzmark joined Ticketstoday in 2010 following the acquisition by Big Fish Media and previously served as Chief Revenue Officer. Several key executives have also been with the company for over a decade since the Big Fish acquisition.
The longevity of Ticketstoday’s management team speaks to the stability and strategic direction provided by ownership under Big Fish Media. While Big Fish serves as the parent entity, Ticketstoday operates as an autonomous subsidiary with experienced leaders at the helm.
Future Outlook
Ticketstoday is positioned extremely well for continued growth and success in the global ticket marketplace. Industry analysts see substantial runway for further expansion, particularly in emerging markets. The company’s technology and data analytics capabilities also set it apart from competitors.
There has been ongoing speculation that Big Fish Media could spin-off or conduct an IPO for Ticketstoday, but no concrete plans have been announced. The ownership believes Ticketstoday still has considerable room to run as a privately held subsidiary. An IPO or spin-off would allow Big Fish to realize some value from their very successful acquisition.
Regardless of any changes in ownership structure, the future looks bright for Ticketstoday. With its strong brand, global footprint and technical expertise, Ticketstoday is poised to maintain its leadership position as the premier online ticket marketplace for years to come.