UPDATED: Ticketing company Lyte shut down suddenly late last week. Now Lyte is seeking a buyer as polarizing founder Ant Taylor, former employees, and affected promoters and fans offer a clearer picture of the closer despite $53 million in funding.
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Fallout
“this really messed up my small local festival”
Multiple sources tell Hypebot that they are unable to access their ticket inventory or other sections of the site. Michigan’s Big Fam Festival added a Comment to our original post typical of what others are saying off the record: “This really messed up my small local festival, I really hope they give me access back.”
Just a week ago Lyte was still promoting its group ticket buying solution Lyte Groups.
$53 Million Raised
From a seed round in 2016 to series B round in January 2021, Lyte had raised $53 million in 5 rounds.
But as with all startups who try to “fix” ticketing, Lyte’s efforts were dwarfed by Ticketmaster, Axs, StubHub and handful of powerful and deep pocketed primary and secondary ticketers.
