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StubHub buys ticket broker software company Ticket Technology
Fri, Nov 21st 2008 4:25 pm EDT
By Alfred Branch Jr.
In a move that the company said allows it to improve its relationship with large-volume ticket sellers, StubHub announced today that it bought ticket broker software company Ticket Technology for an undisclosed price.
Spearheaded by former National Association of Ticket Brokers President Russ Lindmark, Ticket Technology has more than 150 clients, and its software is used by some of the secondary ticket market's larger companies, including Lindmark's other company Ticket Solutions; Boston's Ace Ticket; and Texas-based Golden Tickets.
"The acquisition of Ticket Technology will enable StubHub to provide point-of-sale services that will streamline the listing process for our large seller customers and help ensure StubHub inventory is refreshed in real time with the market," StubHub President Chris Tsakalakis said in a statement. “With the valuable software developed by Ticket Technology we can help ensure StubHub continues to be the number one destination to buy and sell tickets."
In addition, the deal ups the ante in the secondary ticket market because it potentially opens up another avenue of competition, sales platforms. StubHub will now join industry leaders TicketNetwork, parent company of TicketNews, and Ticketmaster Entertainment's TicketsNow in offering brokers point-of-sale platforms.
"This acquisition, and the competition in general, signals that all the major players intend to invest in seller systems and compete for the brokers' business, which is great for brokers," said Mike Janes, CEO and co-founder of ticket search company FanSnap. "More importantly, it is great for fans because better systems will directly lead to better service."
Not everyone was sold on the acquisition, however. Though Ticket Technology has been around for at least a decade, the company had not gained enough traction to call itself the dominant player in the market, despite having large clients behind it.
"I think it's great for Ticket Technology, but I don't see what StubHub gains from them," said one broker and large-volume StubHub reseller. "It's certainly not market share because Ticket Technology's client base is so small."
Though not directly addressing that question, Golden Tickets President Steve Parry, Board Chairman of Ticket Technology, said in a statement that Ticket Technology's software will help StubHub grow even more.
"Ticket Technology will bring key technology and services to the most popular destination for people to sell tickets on the Internet," Parry said. "The Ticket Technology team is excited to partner with StubHub in developing best in class software tools to further enable ticket selling."
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Comments represent the opinions of users and do not necessarily reflect the views of TicketNews.GREAT MOVE!!!!!!!!!! SMART FOR STUB HUB TO STEP TO THE PLATE AGAIN!!!!!!!!
seems like it should be a good thing for brokers ... SH's broker support has been awful over the last few years, and maybe this will now mean better times ahead for selling on SH. hope so.
Now people can get off TND's P.O.S. (piece of shit). Gotta love the threatening letter if you're not PCI DSS compliant.
You mean switch to a bigger piece of shit? Nah.
Ticket network is not a software company. They are a media company, ticketnews, tnd, ticket summit. The way they make their money is by making people believe their way is the only way to go. Just read ticket news, its as fair and balanced as fox news. If the clients are so good they are pushing us to do business with through tnd why offer them up in the first place. Their pos is no better than ei or tt The only thing you wont have if you leave is a team of people looking at how people are doing business in each market so they can buy the shows we are and undercut us.
If you actually read TicketNews, you will see the good and the bad. Take this as an example: http://www.ticketnews.com/Ticket-Software-LLC-is-subject-to-Arkansas-law...
I just found out that if your a level 4 (the lowest merchant level you need to us a POS that's PCI compliant. I have to thing that TicketTechnology and EIBO are complaint. How could they sell it if they are not
yes, stubhub now LOVES brokers. =)
and it finally over the bullsh*t line that their inventory comes from fans
From what i have heard, more than 50% of their inventory comes from season ticket holders and/or fans.
oh ya, who told you that, StubHub? I've heard the opposite, that the majority of their business was built on the backs of ticket brokers, not fans.
I'm not questioning if the business was built on the backs of brokers or not, I'm simply relaying information i was told from another broker, who with the help of a third party(paid consultant), recently did a robust inventory comparison between SH and the other exchanges.
Nobody doubts they have some fan tickets but they've been using broker inventory for years (especially back in the day) while claiming through their marketing to be a fan-to-fan site - it's not true, that's all that guy is saying I think.
You think Stubu Hub has a lot of fan tickets? Pick any event - go count up the tickets - then go to Tickets Now or Ticket Liquidator and count the tickets (and check sections and comments for all the matches). I would say between 80 and 90% of StubHubs inventory is supplied by the brokers. Fan to fan? Where fans buy and sell tickets? Well yeah, most brokers are fans, too.