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21:30

Fighting Ticketmaster, The Edge Invests In Ticketing Startup

Ticket Text, the makers of Ticket ABC, a white label mobile ticketing solution, announced today that they have raised $350,000 in seed funding from The Edge, a.k.a. David Evans, or the guy who plays guitar for U2. Several other Dublin and London-based angels participated in the round, with Ticket Text’s total investment now at just over $1 million. The Irish startup will use this infusion of capital to expanding its service in Europe and eventually to the U.S.

Ticketmaster has long been a source of grief for consumers, with its high fees and charges, especially considering the ticket company has long had a nearly monopolistic grip on music ticketing. Today, venues, promoters, and artists are looking to bring their ticketing solutions back in-house — out of the reach of the ticket agencies that control pricing, customer data, etc. But existing choices really just consist of outsourcing to an agency or using a licensed ticketing solution.

Ticket Text wants to change all that by providing a low cost white label ticketing and venue management solution that attempts to put the control over ticketing back in the hands of the little guy. For starters, there are no upfront, annual or customization costs, and all the data is owned by the client.

The solution also offers an automated refund process, and Ticket ABC users can reissue their tickets, both pain points for a number of ticket solutions. Ticket ABC also offers an integrated wireless solution that enables clients to scan mobile and eTickets at multiple places within a venue.

Founder and CEO of Ticket Text Mark McLaughlin said that the team has made a point to architect mobile into the core of the Ticket ABC solution, because they believe that ticketing will become commoditized, so the key for venues and ticketing companies in the future will be to know where their customers are at the venue when they scan their ticket, so that they can communicate with them there and up-sell.

Ticket ABC has also been optimized for mobile so that consumers can purchase tickets from mobile browsers and apps.

Other great features include the ability to create seat maps, set zone prices, seat statuses, and seat rankings — and for the consumer the ability to choose seats when buying tickets — all baked into the solution’s UI. And because Ticket ABC recently added support for another payment service provider, if there are outages or problems, the solution has the ability to switch providers. Always good to have a “Plan B”.

Lastly, Ticket ABC comes with social features that allow its clients to promote their events on Twitter and Facebook, so that users can share what events they’re attending and when they plan to purchase their tickets. The solution also adds a “Buy Tickets” button to a venue or business’ Facebook page, which is a nifty little feature.

And because venues may not want to create a whole new separate site for ticketing, the solution provides an embeddable widgets to that ticket providers can add the solution to their own site.

As to the cost of the solution, there is a flat fee of 5 percent, plus a 99-cents per transaction, which includes payment service provider costs, credit card and hosting fees. Ticket Tex hopes that by charging transactional fees rather than charging upfront, annual or customization fees, the pricing will allow client revenue to be generated proportionally to the costs of using the solution.

Ticket ABC’s current clients include fabric, Pacha, and Bird On The Wire.

For an example of a Ticket ABC solution, check one out here.



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