TickPick Launches First Comprehensive Bid-Ask Platform for Live Entertainment Events

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With First Round of Seed Funding Complete, Trademarked Algorithm Positions Company for Success

Our platform allows consumers to quickly value tickets for live events including sports, concerts and theater

TickPick (http://www.tickpick.com), the new online ticket marketplace that allows live event enthusiasts to buy, bid and sell tickets utilizing a revolutionary approach to the secondary ticket sales market, announces today they have completed their first round of seed funding. TickPick‘s Best Deal Ranking System and patented bid platform gives consumers and sellers the ability to better connect through detailed listings or qualified bids.

“TickPick is a marketplace that benefits both the ticket seller and the ticket seeker,” says co-founder Brett Goldberg. “Our platform allows consumers to quickly value tickets for live events including sports, concerts and theater, removing the painful process of searching for the best deal and uncertainty if you're overpaying for tickets.”

Secondary sales of live event tickets is a $4.5 billion industry annually, consisting of approximately 100 million transactions. As it stands, the industry gives professional sellers, who account for more than 50% of all ticket transactions, a massive advantage as there is little transparency in seat location and price.

TickPick solves this problem by using a trademarked algorithm, also known as the Best Deal Ranking System, to rank tickets based on what is truly considered the "best deal," as determined by price and location. Ticket buyers select their event, number of tickets, price range, and then use a Seat Ranking System to view available seats. The system assigns ratings to each ticket location based on proximity and viewing angle and consumers have full transparency into the quality and price of every available seat.

If a buyer does not find any seats they are interested in purchasing through the Best Deal Ranking System, TickPick features a patented bid platform that allows consumers to bargain with multiple sellers by placing offers on a multitude of seats. Ticket buyers select the section(s) where they’d like to sit, enter a high price for the best seat and a low price for the worst seat they’d like to sit it. The bid platform then automatically negotiates with hundreds of ticket sellers and consumers are notified by email if their bid has been accepted. If not accepted immediately, sellers have the ability to satisfy the bid at any point up to the expiration date set by the consumer. Both the Best Deal Ranking System and bid platform have no purchaser fees and come with the “real ticket guarantee” that promises admission into the event for which a ticket was purchased or a 110% refund.

When sellers list their tickets with TickPick they, too, can take advantage of the Best Deal Ranking System as they are informed of what fair and competitive pricing is for their specific seats. Alternatively, they can sell their tickets instantly to buyers who have previously made offers through the bid platform. There is a 10% commission charged to the seller when their tickets are sold.

The Best Deal Ranking System, coupled with the patented bidding platform, sets TickPick apart in the ticking industry and firmly establishes the company as the ultimate destination for buying and selling live event tickets at the best prices.

Currently, TickPick is live for all events in the New York area and the company hopes to expand to additional markets by the end of 2012.

TickPick is the first transparent, two-sided ticket marketplace benefiting both ticket sellers and ticket seekers. Privately held and founded by Brett Goldberg and Chris O’Brien, the company utilizes a trademarked algorithm which is applied to TickPick’s Best Deal Ranking System and a unique bid platform to determine the best deals for the best seats available at hundreds of live events in the New York City area. For more information and to find your next ticket deal, visit TickPick.com

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Karyn Ravin
Maletzky Media
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