Growthdeck has listed an EIS compliant investment opportunity to back to eticketing hub WebTicketManager.
According to the offering page, WebTicketManager is raising £557,000 for a 21% equity stake in the firm. Expectations are for an exit EBITDA multiple of 5X or an exit IRR of 68% (including EIS). Additional information is available for registered users of Growthdeck.
EIS investment opportunities can be interesting as investors receive can reclaim 30% of the cost of each investment against their income tax bill. Even better, there are no capital gains on a good exit after a three year hold.
WebTicketManager provides low-cost online ticketing services to attractions and events in the UK and Europe. According to the company, they have signed up a range of tourist attractions as clients, including the stadium tours of Chelsea FC and Twickenham, the home of England rugby, as well as Liverpool’s iconic Cavern Club, and the Beatles Story museum.
WebTicketManager allows clients to manage their own ticketing process and sell directly through their own websites. The platform also enables clients to sell through other channels like tourist information centres, hotels, airports and transport providers, via the WebTicketManager Box Office Network.
The company reports that business has grown organically since it was founded in 2012. The new financing will help expand its sales and marketing operation significantly and grow its business client base.
Top line revenue for 2017 was reported at £400,000 and said to be near breakeven. Growthdeck predicts that the business projects that revenues will grow by a factor of 11 by 2021.
Steve Talbot, Investment Director at Growthdeck, says the eticketing market is entering a new phase of growth, with more and more visitors seeking local experiences. He believes that WebTicketManager is well-placed to take advantage of the growing sector of entertainment.
“Given the solid track record of the business, the expertise and experience of the management team, and the growth opportunities the business is poised to benefit from, this investment makes a lot of sense for Growthdeck investors,” stated Talbot. “No platform has yet managed to combine a proven tech offering, a multi-channel sales approach and a realistic pricing structure for local attractions. WebTicketManager is the only player in the market to offer that.”
WebTicketManager was founded by David Wade-Smith who is said to have 25 years’ experience in the UK’s ‘visitor economy’.Wade-Smith successfully built and sold Liverpool clothing retailer Wade Smith.
Co-founder Peter Rosenfeld is a “serial entrepreneur” who built the north-west sightseeing tours provider Busybus.
Growthdeck provides tax-efficient investments in growth businesses to high net-worth and sophisticated investors. The investment platform has previously completed successful fundraises for businesses including boutique gin maker Pinkster, the artisan pizzeria chain Pi Pizzas, and B2B SaaS provider Fissara.
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