Chicago, IL-based FirstDIBZ was founded in 2001, and according to its Web site “is dedicated to providing consumers with access to the biggest and most prestigious live events.”
The company provides ticket “forward markets,” which allow users to buy and sell rights to tickets for future events. Through the purchase of DIBZ, a fan can guarantee themselves a seat at an event, such as the Super Bowl or World Series, if a team they choose makes it to the playoffs/championship. DIBZ sell for varying amounts, depending on the team and their likelihood for making the playoffs/championship.
Users can trade the DIBZ in real-time, 24/7, on in a FirstDIBZ marketplace. The company, previously known as TicketReserve, was a pioneer in the Pre-Primary, Forward or Futures market for tickets, and other companies offer similar programs. Fans use the site to lock in rights to their favorite teams, and ticket brokers use it to hedge their bets to make sure they’ll have tickets for certain high-profile events.
The company ran into controversy in early 2009 when a couple of fraudulent sellers allegedly sold hundreds of DIBZ for the Super Bowl, for which they didn’t have tickets. The case, which was ongoing at the time this profile was written, resulted in FirstDIBZ having to refund money to hundreds of swindled customers.
Settlement reached in FirstDIBZ class action lawsuit
FirstDIBZ parent company wins partial victory in court over class action lawsuit
FirstDIBZ: Customers still unable to access money as attorneys prepare for settlement talks
Dozens of customer accounts remain frozen as FirstDIBZ continues ‘in transition’
FirstDIBZ loses an advisor with passing of Jack Kemp
Angry customers target FirstDIBZ with class action lawsuit over unpaid obligations
FirstDIBZ seeks more capital to help complete Super Bowl reimbursements
FirstDIBZ to pay millions in reparations to customers after Super Bowl tickets fraud
FirstDIBZ in the eye of the storm from angry NFL fans
FirstDIBZ forced to cancel hundreds of Super Bowl orders after seller fraud
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