Lyte, the San Francisco-based ticket exchange, has added LA-based SquadUP to its growing portfolio of primary ticketing partners.

Lyte’s partners offer fans the opportunity to return unwanted tickets, plus fees, to the original point of purchase for an immediate refund.

Resale prices are determined by an algorithm that monitors other websites and by stakeholders themselves. Resale money is divided between Lyte and the stakeholders, such as venues, promoters and artists.

Lyte “enables us to give our customers the benefits of a secure and fair secondary ticket exchange,” SquadUP founder Willie Litvack said.

“Our customers want their events full, but they don’t have a return policy. If you don’t buy sold-out tickets through Lyte, you don’t have any guarantee they are real.”

Lyte and SquadUP began working together for the 2019 Charleston Wine + Food festival, with 4.4 per cent of the festival’s capacity bought tickets through the Lyte platform.

Litvack added: “The Lyte exchange was used heavily by attendees. A meaningful amount of tickets were exchanged and our clients were happy. It went beautifully.”

SquadUP was the event’s primary ticketer, which offers mobile-first ticketing along with a completely white-labeled implementation for enterprise customers.

Lyte’s other partners include Elevate Tickets, Eventbrite, Front Gate Tickets, Showclix, Ticketfly, Tickets.com and Universe.

Image: OrnaW