FlipTix, announced that their ticket resale app will launch will launch in California at the Kaaboo-Del Mar Festival when it's held in Del Mar from Sept. 14-16. Unlike other ticket resale services that allow fans to buy tickets ahead of a concert or festival, FlipTix enables users to legally sell their tickets to the event if they leave early.
Ticket holders who exit prior to the end of an event can use the app to mark themselves as done with the event, which notifies FlipTix users outside that a ticket has become available. Sellers receive payment in the form of cash, merchandise or gift cards. Buyers either pick up their activated wristband at a designated FlipTix location at the event venue or get a digital ticket delivered directly on their phone.
FlipTix is led by co-founders Jaime Siegel, CEO, who spent 16 years as VP of Intellectual Property for Sony, and President Brian Siegel who previously led a number of Sony’s U.S. business operations and Lenovo’s North American Consumer Sales efforts.
“The tertiary ticket market in sports, entertainment and special events has needed this type of simple solution for years,” said Brian Siegel. “Now, with digital connectivity and personal devices that enable instant value exchange, FlipTix lets people attend events regardless of whether they are sold out and lets those who leave early recoup some value. Higher attendance benefits concessionaires and merchandise vendors and attracting more people to event locations helps local economies – all without additional cost to the event producer.”
FlipTix recently closed its seed round of VC financing at $1.15 million. The seed round was led by an investment group from the east coast and by 4 Clover Capital Corporation of Denver
The three-day Kaaboo-Del Mar festival marks the first major festival activation for FlipTix and its first in California, however, the app was previously used at BLK Live, a restaurant and multi-bar nightclub in sunny Scottsdale, AZ.