30% of event attendees leave prior to the conclusion of an event. FlipTix solves the problem of missed revenue opportunities when attendees leave early. An ancillary problem is the struggle that event operators have with the self identification of attendees.
FlipTix has built a technology platform that allows us to work directly with promoters/teams/event owners and primary ticketing platforms to monitor the early departures of fans and to issue, market and sell brand new tickets to new attendees to join an event already in progress. FlipTix either issues brand new digital tickets or brand new wristbands for wristbands events.
Our differentiator is that we are the only entity in the world that offers the ability to issue a brand new ticket based on an early departure. We currently have a global IP portfolio including 15 patent applications (remaining as applications pursuant to our strategy). Unlike most start-ups, we are not a "better, faster or cheaper solution" - we are an entirely NEW solution.
Our biggest achievement was entering into a channel partnership with Front Gate Tickets, the global leader in festival and RFID ticketing, and a subsidiary of LiveNation/Ticketmaster. (Although an equally important achievement was putting together a team of extremely capable professionals, without whom none of our other achievements would have been possible).
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