London-based ticket resale platform, Twickets, closed its equity crowdfunding campaign on Seedrs with more than £1.2 million in funding. The website launched the initiative in November originally seeking £700,000.
Twickets as achieved more than £2.7 million in ticket sales and 240,000 mobile app downloads since its launch in 2011. The platform has been named the exclusive resale platform for various musicians, which includes Adele, Mumford & Sons, and One Direction. The website also attracted investors such as the founder of Ignition Management (Noel Gallagher, Catfish & The Bottlemen), Modest! (One Direction, Olly Murs), the founder of Wildlife (Arctic Monkeys, Royal Blood), Chris Wright (Chrysalis plc co-founder), Steve Parish (Chairman / co-owner Crystal Palace FC), Tony Wadsworth (ex-EMI Chairman).
The Twickets team stated:
“Twickets has quickly established itself as what we believe is the only solution able to satisfy the needs of fans and event organisers, and seeks investment to accelerate growth in the UK and internationally.”
Following the closing of the campaign, Twickets announced on Twitter:
— Twickets (@Twickets) January 11, 2017
The team also noted the platform is currently free to sellers for most events but does charge a small fee for a growing number of partner events. Funds from the campaign will be used for creating a marketing strategy. Twickets did explain it is also dedicated funds to help expand outside the UK, with planning for mainland Europe and a U.S. launch later this year.
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