Orange County start-up, letting ticketholders sell unused time, makes funding and contest announcements
FlipTix, an Orange County-based tech start-up, has announced that their groundbreaking mobile app, enabling tickets or “unused time” to be resold during sports or entertainment events, will launch in California at the KAABOO-Del Mar Festival in Del Mar, Sept. 14-16. The company also announced a contest to give away two three-day wristbands to the festival.
FlipTix allows users to either sell or buy tickets when attendees exit a venue. Ticket holders who exit prior to the end of an event simply press “I’m gone” in the app, which notifies users outside the event that a ticket is available. Ultimately, prices will be set automatically based on the amount of time remaining (in combination with the score for sports events or weather for outdoor events). Sellers receive remuneration in the form of cash, credit, merchandise or gift cards. Buyers either pick up their activated wristband at a designated FlipTix location at the event venue or get a digital ticket delivered directly on their phone.
The KAABOO-Del Mar Festival, a three-day cultural event held at the Del Mar Fairgrounds, features concert headliners Foo Fighters, Imagine Dragons, Katy Perry, Robert Plant & The Sensational Space Shifters, Halsey, Post Malone, Wiz Khalifa, N.E.R.D., Incubus, Earth Wind & Fire and many others, plus comedy stages as well as art and culinary installations. FlipTix is the only trusted marketplace for fans to flip their wristbands for KAABOO-Del Mar. KAABOO-Del Mar marks the first major festival activation for FlipTix and its first in California following a successful launch with the popular nightlife venue BLK Live in Scottsdale, Ariz.
FlipTix is celebrating its launch by introducing a promotional contest that will award the winner two Hang Loose three-day wristbands for the festival, a retail value of $558.00. Eligible participants must pre-register and create an account at fliptix.com/register and download the FlipTix mobile app with the link provided by 11:59 p.m. PDT on Wednesday, September 12, 2018. All accounts must be verified.
FlipTix, which has 14 patent applications on file (and more to come), is led by co-founders Jaime Siegel, CEO, who spent 16 years as VP of Intellectual Property for Sony, and President Brian Siegel who previously led a number of Sony’s U.S. business operations and Lenovo’s North American Consumer Sales efforts.
“Launching at KAABOO-Del Mar is a fantastic way to introduce FlipTix into music festivals,” Jaime Siegel said. “We’re looking forward to expanding with more premier events like KAABOO – Del Mar and adding many other festivals, venues and events around the country as we roll out.”
FlipTix recently closed its seed round of VC financing at an oversubscribed $1.115 million. The seed round was led by an investment group from the east coast and by 4 Clover Capital Corporation of Denver.
“The tertiary ticket market in sports, entertainment and special events has needed this type of simple solution for years,” said Brian Siegel. “Now, with digital connectivity and personal devices that enable instant value exchange, FlipTix lets people attend events regardless of whether they are sold out and lets those who leave early recoup some value. Higher attendance benefits concessionaires and merchandise vendors and attracting more people to event locations helps local economies – all without additional cost to the event producer.”
Information about user behavior is used to develop and personalize the user experience making it easy for event promoters and venue operators to improve customer services and complement marketing efforts. FlipTix has the new, unique ability to understand fan time tolerance which makes the user experience much more customized. Currently focused on integrating with official ticketing platforms and implementing partnerships with promoters, teams, leagues and venues, FlipTix is quickly making strides toward expanding into new markets.
FlipTix is a groundbreaking mobile technology company serving the event ticketing industry. The FlipTix app allows event attendees to “flip” their vacated seats or space to prospective buyers who are outside the venue, creating a tertiary marketplace for concerts, sporting events, multi-day festivals and conferences. FlipTix operates at no cost to the team, promoter or venue and integrates with the existing box office to generate net-new event tickets and boost on-site revenue. The company is headquartered in Orange County, Calif., with operations in San Francisco.
Source: La Mesa Currier