Online ticketing software company ShoWare by VisionOne was recently ranked number 2,534 on Inc. magazine’s sixth annual 500|5000 list, an exclusive ranking of the nation’s fastest-growing private companies. The company experienced a record year of growth in 2011 with 44 percent revenue growth over 2010.
According to an August 23 press release, ShoWare joins the ranks among other prominent brands like Unified Payments, which tops this year’s list, as well as Yelp, Chobani yogurt, Giftcards.com, and KIND.
Joseph Wettstead, vice president of sales and marketing at ShoWare, explained in a recent email to TicketNews, “ShoWare is a pure B2B (business-to-business) company focused 100 percent on helping build our clients’ brands and foster relationships between the venue and the patron. So these opportunities to get our name out there mean a lot to us at ShoWare.”
Founded in 1998, ShoWare is a privately held international corporation that provides comprehensive customizable box office solutions, online ticket sales, and distribution services. The company has North and South American headquarters in Fresno, California and operations in Chile, Brazil, Argentina, and Mexico, and European headquarters in St. Gallen, Switzerland with operations in Germany and Austria.
TicketNews recently discussed ShoWare’s expansion of their Project Management Team, adding two new members to their team, as well as the addition of new offices in Oklahoma and Florida. According to the August 22 press release, the new offices will serve the already-established client base as well as help in seeking new opportunities in terms of different types of clients and venues.
In addition to significant revenue growth in 2011, ShoWare has also gained 158 new customers from all areas of the entertainment industry like arenas, casinos, fairs, sports, and performing arts venues. ShoWare also rolled out product advances of its ticketing software platform.
Wettstead told TicketNews that ShoWare’s focus on the customer experience is what sets the company apart from others in the industry. “More than 50 percent of our new customers come from referrals which is the biggest validation that we are doing things right,” he noted. The company does not involve Shareholders, venture capitalists, or banks, which often expect a certain level of profit or growth, and according to Wettstead, this allows ShoWare to truly focus on the customer.
According to the press release, the company has seen rapid customer adoption of its Facebook ticketing app this year. The ticketing company was the first to launch Real Facebook Ticketing in 2010 and they have since expanded their functionality in order to increase the use of social media for sales and marketing. The app allows for ticketing transactions without ever leaving Facebook and lets artists or sponsors easily share the app on their page to make it easy for fans to purchase tickets.
Wettstead told TicketNews that 2012 is shaping up to be another good year for ShoWare. “We have increased the number of new accounts year-over-year, but most importantly we have seen a dramatic increase in our deal size, which was the main goal for 2012,” he said.
“As we celebrate our 10th year in the US ticketing business we think it is important to point out that our growth percentages are strong enough to make the list even after being at it for 10 years,” Wettstead said on making the Inc. 500|5000 list two years in a row.
ShoWare’s press release states that the median growth rate of 2012 Inc. 500|5000 companies remains at an impressive 97 percent — these companies have created over 400,000 jobs in the past three years and their combined revenue reached $299 billion.
“Now more than ever, we depend on Inc. 500|5000 companies to spur innovation, provide jobs, and drive the economy forward,” says Inc. editor Eric Schurenberg. “Growth companies, not large corporations, are where the action is.”