Dealflicks Raises $1.7M on Wefunder: Startup Continues to Fill Empty Movie Theater Seats

In its concurrent fourth round of crowdfunding in two years, Dealflicks has now raised $1.7 Million on Wefunder.  Investors in this most DealFlicks gets butts in Movie Theatersrecent round include 500 Startups, Siemer Ventures, Archer Gray, Rubicon VC, Wefunder, Be Great Partners, Rosepaul Investments, Mogility Capital, Sierra Maya Ventures and Warner Brothers Media Camp.

Selected as the Cream of the Crop at 2013’s 500 Startups Demo Day, Dealflicks provides yield management for movie tickets.  Think Priceline.  500 StartupsConsider the adverse situation: $40 billion dollars are spent every year on movie tickets, popcorn, and soda, but 88% of movie theater seats still remain empty. An even bigger problem: 88% of seats are empty after opening weekend. Dealflicks offers a solution by partnering with national theaters to fill their empty seats by selling movie tickets and concessions online for up to 60% off, 24/7/365 with no convenience fees: “New releases at re-run prices.”

Currently the startup is partnered with 400+ US theater locations including 9 of the top 50 US movie theater chains. Dealflicks’ partnered theaters have seen new customers patronize their theaters,  customers attend more movies, and customers purchase many concessions at full-price. This has resulted in increased marginal revenue, attendance, and concession sales.

Ajay Narula, Richard Wolpert, Larry Braitman, Marc Berger, Hersh Narula, Jason Kothari and Darcy Wedd have joined Dealflick’s audience as angels.

Sean WycliffeKevin HongZachary CancioAccording to the startup, since launched by Sean Wycliffe, Kevin Hong and Zachary Cancio in July 2012, Dealflicks’ annual revenue run rate has crossed $1.7M (45%+ MoM growth since Jan 2013), and last month over 55,000 tickets and concessions were sold through its platform (35%+ MoM growth since Jan 2013). Driving these sales may be the company’s iPhone app which was featured 5x by Apple and  Android app was featured at Google I/O 2013.

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