Photo - biletwise
51012

biletwise

Online ticket marketplace

Turkey
Market: Trade, Tourism, sport, Services
Stage of the project: Operating business

Date of last change: 24.01.2021
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Idea

We are providing safe trade between sellers and buyers, users can buy or sell through event tickets through our platform.

Current Status

-We were able to operate only in the local market just for the local events. Prototype/local website has achieved in the last 6 operation months; 1.780.00 TL(325.000$) online revenue and 2.700 transactions. With offline sales, revenue for the last 6 months was over 2.500.000TL(460.000$). The new brand will record online/offline sales alltogether. Before the pandemic, our monthly average revenue online/online+offline was between 55.000$ - 75.000$.
-We did spend only 35.000TL(6.500$) for marketing/google ads in the relevant operation period. We had focused since the beginning, maximum profit rather than volume-visitor traffic. We worked with more than 1:50 Advertisement/Online Revenue Ratio. Otherwise, we would easily achieve %45-50 more revenue.

Market

Customers for tickets can be everyone interested in certain events. Basically, they can be divided into 2 segments:
1. First group is which is looking to find and buy a ticket to the event, which is sold out. For this group, the most important point is to get their tickets securely. Price competition is coming less important for this segment. A big proportion of these customers come from keyword search like the "[event name] tickets"
2. Second one is which is looking to get their tickets for a cheaper price than official sale channels. This condition is mostly available for non-sold out events. These sellers are can be renounced attending events and trying to convert their tickets to cash.

Problem or Opportunity

We are the market leader as a marketplace in Turkey since 2017 and one of the biggest ticket brokerage company in Europe since 2008, we will be a market leader in Europe as a marketplace as well. We have access to all top sellers/brokerage companies in Europe. They are working with our competitor because they have to. There is weak competition in the EU market. Competitor didn’t dignify the brokers however brokers are the soul of this business. There is weak customer loyalty in the secondary ticketing industry. Repeated sales are less than %10 of total sales. The key of the success is steady and loyal sellers. Top sellers/brokers are generating 70% of the total revenue in the sector. We will be the first broker origin marketplace in Europe. We will be a love mark like a fury in the market because we will establish with our vendors real bonds. We have many guerilla marketing and growth hacking strategies that we start to process in short term.

Solution (product or service)

We are highly experienced in the secondary ticketing industry. We well know the requirements of both side buyer-seller. We will provide the best and the fastest operational service to the market.

Competitors

stubhub(ebay)
viagogo(acquired stubhub for 4B$ in 2019)

Advantages or differentiators

We are the first broker origin marketplace in Europe. We will establish real bonds with our vendors and we will take behind of us the market like a fury. We will be a lovemark in the market. We have access to all top sellers/brokers in European Market. Brokers are generating 70% of the total volume in the Sector. There is a real market exists in our business if you take behind the market nobody stay against you. We know the market we own the market.

Finance

We generate revenue-profit as transactional. In the secondary ticketing industry an average of comission rates are between 25%-40%.

The main goal of the new online ticket marketplace will be being the market leader in Europe. We will enter the European market as an authority. According to the estimated 5-year financial investment plan, will be acquired end of the fifth year 21.405.000$ revenue. For the fifth year, it gives investors 214.050$ of revenue per share of company and a share that worth around 1.605.375$. After the first fundraising, there will be at least 2 more investment steps till complete of establishments in target markets. We may also prefer ICO, we have specific and particular users. After the first 6 years, next generation fundraising rounds will occur for scaling the business. In 6 years biletwise can reach annually 50.000.000$ revenue and company valuation can be above 300.000.000$. In 8 years biletwise can be the market leader in Europe and have a big cut from the global market. In 12 years biletwise can reach annually 200.000.000$ revenue and company valuation can be above 1.000.000.000$.

Business model

B2B-B2C-C2C-C2B all

Money will be spent on

All expenses are shown in our Financial plans detailed. We did get over the worse and we are not seeking to survive. We are seeking seed investment to accelerate our developments(web service and applications), to entering new markets, and to increase the profitability of current markets with a better marketing budget in 2021. There is 3 big opportunity in 2021 and 2022 which we can be authority and introduce our new brand strongly. We want to catch these organizations with a stronger financials. We know that genuine investors buy the future not today, either this or that way pandemic will be over between 3-12 months and we will rise again. We are ranked people and we have awareness about the conjuncture. We don't put forward any valuation which would take our previous records. We want to present an opportunity to our first Investor/s. We are giving to genuine investors such a big opportunity which they will able to invest with the Berkus Pre Revenue Startup Calculation method. That would be the meaning of 50% less than our project deserves.

Offer for investor

We had also our investments and it will be liquated when the event sector will be alive again. Based on this we did keep our seed investment ticket size as little as we can. We are seeking 350.000$. We would like to evaluate all offers which will take a basis of over 2.500.000$ valuation.

Team or Management

Risks

Terrorism activities and pandemic

Photos

Photo 1 - Online ticket marketplace
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video