TicketLeap, a service that helps promoters sell tickets to their events though a self-serve platform, has raised $2 million in a Series A funding round led by MentorTech Ventures and Ben Franklin Technology Partners.
TicketLeap differentiates itself from large ticket vendors by catering to small companies and events. Rather than charge event coordinators for selling their tickets, TicketLeap passes on the cost to the ticket buyer by charging a small fee along with each ticket. The Philadelphia-based company was founded in 2003 by Christopher Stanchak, who initially created the site as part of Wharton’s Venture Initiation Program.
There are a number of strong competitors in the ticket management space, most notably Eventbrite, which charges event planners a set fee of 2.5% for every ticket sold (users can also choose to pass on the fee to their customers, as they can with TicketLeap).
TicketLeap is based in Philadelphia, PA.
Licketyship wants its logo back
Hi Jason –
A correction to your story: Eventbrite has always allowed the event holder to pass the fees on to the event attendees. This is done by default. Event holders do have an option to absorb the fee as well.
Best,
Kevin Hartz
CEO
Eventbrite
Congrats to another great Philly company! Way to go, guys. Can’t wait to see more great things from you.
this is a no brainer business!
nope i for one aint gonna be paying 20% above ticket price just for the privilage of using this site :-0
Great idea for them to impliment it into a face book app! That will help bands to sell their tickets.
Congrats Chris, Iq and crew …. awesome!!
Remember kids, if you went to Wharton you too can trick people into giving you 2 million dollars to clone websites.
Negative energy is no good Alaska Miller.
Congrats to Chris and team. Great to see another Philly company with a Wharton entrepreneur at the helm.
-Philadelphia Pride
-Wharton Pride
Jason,
Thanks for correcting our location in the story. I’d like to clarify that unlike other solutions (e.g. Eventbrite), TicketLeap does its own payment processing and therefore event organizers don’t need to pay 3rd party fees to PayPal or Google Checkout.
Thanks for the writeup!
Chris Stanchak
CEO
TicketLeap
Our website has a similar name http://www.leapways.com. We primarily focus on job and career market. We have end-to-end hiring solution.
Now both of my competitors (Eventbrite & Ticketleap) raised money, still they can’t match with the feature set and pricing we are offering to the event managers.
Ticketleap is just tricking by saying service fee is paid by attendee, infact that option is available from every vendor. By not supporting PayPal, Google payment they are not giving cheaper CC processing option to the event managers.
I would challenge both my competitors to match our flat $1 per ticket pricing model
- Bala, CEO
Eventbee Inc
http://www.eventbee.com
I don’t think it’s a good idea to disclose credit card or “handling” fees to consumers.
We have to “thank” Ticketmaster for making this practice pretty much the standard in the industry. Nicknamed “Ticketbastard”, it’s a much hated service for adding a huge fee to their transactions. In my experience, this practice simply reduces sales. Ticketmaster gets away with it because consumers have no alternative.
Event planners are better off by simply incorporating processing costs in the ticket price. For a good reason, retailers in consumer stores do exactly this.