Industry News

Twickets looking to fund expansion in US and Europe

Twickets has launched a new funding round as it looks to expand to the US and mainland Europe in 2017.

The fan-to-fan ticket resale platform said that original backer Chris Wright, co-founder of Chrysalis Records, has agreed to pump further money into the project as part of the drive.

UK-based Twickets was founded in 2011 as an alternative to the established secondary ticket vendors, such as Viagogo, who have been accused of creating a scalping market through which fans are forced to pay exorbitant prices. 

Twickets is believed to have more than 300,000 registered users in the UK and is adding close to 10,000 every month.

“With significant support from the entertainment industry and our loyal followers, we will continue to grow and develop the platform, making it easier and more efficient for fans to resell tickets”, said Richard Davies, chief executive of Twickets, according to the CMU music news website.

“We have been extremely encouraged by the level of interest that we’ve received from the industry for this round so far, and now look forward to opening up the opportunity to our own community.”

Wright said: “Online ticket touting is damaging to the industry and deeply affects loyal groups of fans who are ripped off and left empty handed. In the last 18 months, Twickets has been steadfastly innovating across the business to make face value resale a convenient solution for fans, so I’m very happy for the opportunity to re-invest.”
 

Posted in Industry News