When a fan is looking for tickets to their favorite event, they are almost always looking to find the best price. For ticket sellers, they want to sell their tickets at a fair price in order to make a profit. Zigabid.com offers both buyers and sellers that option, through negotiating.
Launched September 9, the site allows for buyers and sellers to communicate in order to make offers on tickets and find an agreeable price. The company told the Los Angeles Times that they are the only ticket site that allows both parties to bargain on the price.
The site works by letting the potential buyer to submit a price to the seller on a set of tickets. The seller then has the option to decline the offer, accept the offer or present a counter offer. At any time, either party can withdraw an offer or set an expiration time for the offer. Brian Kupetz, director of development and one of the founding members of Zigabid, told TicketNews that the process is “an interaction” and thus far have gotten a lot of positive feedback from its users.
“There is an education to the process,” he said about the unique ticket site. “It’s still evolving.”
In addition to the distinctive buying process, another feature that separates Zigabid from many in the ticketing industry is their “Revolution Distribution” program. The feature gives back money made from tickets to the artist, team and producers of the show. According to the site, Zigabid is the only ticket provider to offer a program like it.
“We just wanted to even out a broken industry,” Kupetz said of the program that will give back 10 percent of the connection fee to the entertainers. If the respective entertainer does not want the money, Zigabid will send it to charity.
With the site only being in business for a few days, most of the Zigabid’s activity has come from the Los Angeles area, which is where the company is located.They currently have more than 125,000 tickets in their database, a number that is growing. If early indications are anything, the company has a bright future.
“What is really promising is that visitors on average spend more than 5 minutes with a portion of them staying 10-20 minutes,” Kupetz said. “Also, our bounce rate is below 20 percent, so 80 percent of the visits we receive navigate past the homepage and deep into the site.”