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The current secondary ticket substitution system is pregnant with several issues , such as tickets being resold at price much higher than their face value , exorbitant fee and other extra costs . Not to mention the risk of purchase counterfeit or invalid tickets , ensue in a disappointing drug user experience .
CrowdVoltwants to disrupt the space with its user - centric , bidding - ask ticket marketplace , which aims to give buyers an affordable tag price with full transparency . A alumnus ofY Combinator ’s Winter 2024 batch , CrowdVolt control on a model similar to sneaker resell marketplace StockX , stand for buyers put in bids on tickets , and sellers place asking price . When a bid aligns with an ask , the transaction is complete .
The platform ’s bid - ask model could appeal to concertgoers because it allow for them to name their desired cost . Traditionally , petty ticket marketplaces are focused on how much the seller wants to deal a tag for , but CrowdVolt changes that . CrowdVolt also enables vendee and sellers to message each other , making tag - buying less anonymous .
to begin with this year , CrowdVolt raise $ 1.4 million in funding ; it ’s back by Brickyard VC , Goodwater Capital and Pioneer Fund , as well as angel investors such as YouTube Colorado - founding father Jawed Karim . The company plans to use the new capital letter to establish in additional markets in a few month , commence with Miami , Chicago and various city in California . The financing will also go toward product development .
CrowdVolt launched in late January and specifically caters to rave and EDM ( electronic saltation music ) fans . It ’s currently only uncommitted in New York , with the majority of venues located in Brooklyn , which is a democratic destination among the EDM crowd .
The inauguration ’s journey start with three booster — Max Hammer ( CEO ) , Josh Karol ( CTO ) and Aria Mohseni ( COO ) — who all share a deep love for EDM . Their personal frustration with the current ticketing mental process led them to produce a platform designed to run into buyers ’ needs .
“ One of our Centennial State - father [ Mohseni ] is a DJ , so we started to go to a flock of events and find the [ ticketing ] process particularly friction intensive and unintelligible , ranging from releases six to nine months in advance to undecipherable purchasing processes with incumbent in the space , ” Hammer order TechCrunch . “ Other weapons platform miss vendee intention … We have a true - sided marketplace . ”
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The inauguration launched at an opportune time , given that one of the largest players , Ticketmaster , is in hot water . Apart from being under ardour for itsexcessively high servicecharges , the Department of Justice recently filed anantitrust lawsuitalleging monopolistic practice . The company also confirmed that it washacked , resulting in a data point breach and thieving of personal information .
CrowdVolt has grown to over 3,000 active users across around 250 listed outcome .
The chopine is presently only usable on the web , but the society plans to launch a mobile app in six months .
