FlipTix

Allowing event promoters to resell tickets when guests leave early


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FlipTix, Inc.:
Fast Facts


FlipTix® is disrupting the event ticketing industry, allowing promoters to “Flip” tickets when attendees leave early and to resell the the seat/space from the Flipped tickets for the remainder of the event by issuing new tickets. FlipTix® is the only platform that can manage ticketing for promoters and events from the moment primary sales start to the moment the event ends.



Events: Promoters missing opportunities.

Event promoters are typically limited to only three opportunities to make money from patrons:


But, 30 percent of patrons leave events early, meaning an opportunity loss of nearly one-third of possible ancillary sales.  Patrons leave early whether or not an event is sold-out.

On the flip side, sold-out events leave would-be attendees out in the cold or gaming the system, hoping for a typically overpriced “scalped” ticket.

Event ticketing has failed to take advantage of the data revolution, remaining in the dark ages of 1 ticket = 1 patron.




Flipping ticket
sales on its head

100% of patrons exit events, many of them with time left on the clock.

Using our patent-pending platform to log and track guest exits, FlipTix ® opens up new ticket inventory for new attendees to enter events after they’ve started.



Key Features / How It Works

Event promoters only have three chances to generate revenue from ticket sales:


FlipTix® is the only option to service all three market components. We currently obtain supply side tickets directly from the promoter, through either body counts of departing fans or by engaging with departing fans to check in at our booths when leaving early.

We anticipate a transition to passive exit detection or remote scan out ability to confirm exits. Once supply side is secured, we list available inventory on our app for purchase. Consumers make purchases through our app and are delivered an electronic ticket that is either used for entry or to redeem for a wristband.

FlipTix can also be utilized for non-sold out events. We can help move pre-seed and off platform tickets at their full price, prior to and during the event. Once the event begins, we can help move inventory through dynamic pricing based on the time remaining in an event.

We currently sell Flips through our own mobile app, however, it is anticipated that by 2020 we may have much broader distribution across the entire secondary marketplace of 10's of millions of customers.




Traction & Accomplishments

Platform is already at release 2.8 and has been out of MVP stage since 1/19. New features are added on at least a monthly basis. We have 16 patent applications on file in U.S., Patent Cooperation Treaty, European Union, China and Australia.

We’ve recently solidified two contracts that will result in 2 events happening at the end of September 2019:


3 year MSA with Freeze Management, with our first event being the Sammy Hagar High Tide Beach Party


A deal with a subsidiary of C3 Presents (a Live Nation Company) for their Sea.Hear.Now Festival in Asbury Park


Marketing Accomplishments

82% of FlipTix® customers (4100) we brought to a single promoter partner were new customers, representing 20% of all attendees


Meet The Team

JAIME SIEGEL
CEO & Chairman of the Board, Co-Founder, FlipTix®
With over 30 years experience, Jaime is a seasoned leader of teams that have generated billions of dollars in revenue globally, as well as being a member of the executive leadership team of a NASDAQ listed company. Jaime’s focus has been in the intellectual property driven technology space and he holds 4 US Patents. He was with Sony for 16 years, leading major revenue programs centered around intellectual property. Jaime is a National Trustee of the Rock & Roll Hall of Fame and Museum in Cleveland and has substantial experience leading customer experience projects.

BRIAN SIEGEL
COO & President, Board Member, Co-Founder, FlipTix®
Brian was previously the SVP of Consumer Sales at Lenovo, where he has led explosive growth over the past two years. Prior to joining Lenovo, Brian spent 15 years at Sony, where he led many business units as a member of the senior executive team, including a leadership role in the launch and growth of the SonyStyle.com ecommerce site into the 8th largest ecommerce site in the world.  Brian holds 17 US Patents and a Masters of Public Administration with a concentration on Statistics.

Brian & Jaime have previous experience working together as partners, having launched a successful patent licensing firm that included Continental Airlines, Coty Cosmetics & Southwest Airlines as licensees.

JASON FRICK
Director of Operations
With nearly 30 years of operating experience developing and implementing financial operations in high-growth network technology and telecommunications industries, Jason is responsible for all elements of FlipTix ® Operation functions. During his career, Jason has held positions with corporations such as Wells Fargo Supply Chain Finance, Castle Pines Capital, Charter Communications, Western Integrated Networks and MediaOne.

CHRIS FORMANT
Board Member, Investor
Chris is a highly regarded technology executive, investor and author. Most recently Chris was President of Verizon Enterprise. He previously held senior executive positions at Avaya, Scient, MBNA and led PWC’s global banking business. Formant has been recognized as one of the top 25 consultants in the world, 25 most influential technology executives and top 10 UCC leaders.

STEVE ROE
Board Member, Investor
Steve has over 20 years of experience in technology sales and operations focused on software and data analytics. Steve has built and led global sales teams, managed operations and marketing, and worked closely with owners and investors. He was granted his first patent in 2019. He is also an advisor to multiple startups in the consumer space, along with real estate and technology.  He is the President of Map Vida focused on marketing optimization.

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