SeatGeek Secures A Deal With The Wall Street Journal And $550k In Funding
Exclusive – SeatGeek, one of the finalists of TechCrunch50 2009, has raised another $550,000 in funding from previous backers (Founder Collective, NYC Seed, Stage One Capital, Trisiras Group, PKS Capital and angel investors Arie Abecassis, Sunil Hirani, Thomas Lehrman, Allen Levinson and Mark Wachen).
More importantly, the ticket search company has inked an interesting revenue-sharing distribution deal with The Wall Street Journal.
Under the terms of the agreement, the Sports and Local sections of WSJ.com will soon feature ticketing links provided by SeatGeek, giving readers one click access to the best deals in sports, concert, and theater events. This should give SeatGeek some nice exposure.
The additional $550,000 raised from its existing investors brings SeatGeek’s total to $2 million and will be used to grow SeatGeek’s product and engineering teams.
In case you’re not familiar with SeatGeek: it’s essentially a new type of ticket search engine that enables fans to quickly and easily find the best price for sports and concert events on the secondary ticket market (which is why we dubbed it the Farecast for such events).
The company uses algorithms to identify the best deals from these providers and to forecast how ticket prices will move over time.
Since the last time we covered SeatGeek, the startup has launched a completely redesigned version of its site, with nifty stadium maps developed in-house. The new event pages are designed to show fans exactly which are the best seats at the best prices (example).
In addition, the company has built out a comprehensive concerts page.