TicketNetwork
| TicketNetwork logo | |
| Private | |
| Industry | Live Entertainment |
| Founded | 2002 |
| Headquarters | South Windsor, Connecticut, USA |
|
Key people
|
Don Vaccaro (CEO), Doug Kruse (CTO) |
| Products | Ticket technology, ticket exchange |
| Website | www.ticketnetwork.com |
TicketNetwork is an online marketplace that provides an outlet for buyers and sellers of tickets to live entertainment events. The company was founded in 2002 by ticket broker Don Vaccaro and software developer Doug Kruse.[1] It operates several retail sites and partners with large name brand travel and media companies.
Contents
Operations
TicketNetwork operates under a model similar to eBay, where tickets are listed on the company's marketplace, but transactions are handled by the individual seller. Buyers are charged a service fee for tickets purchased, plus a delivery fee, depending on the method of delivery, location, and time until the event.[2] Once the tickets are available, the seller ships them directly to the buyer. Sellers are able to list and manage tickets on the marketplace via the TicketNetwork Point of Sale software.
Properties
TicketNetwork operates several retail websites such as TicketNetwork.com and TicketLiquidator.com. It also sponsors an annual trade show called Ticket Summit, which attracts resellers and other ticket industry figures.[3] Additionally, the company operates TicketNews, an industry news site; and the Better Ticketing Association, a website containing information and resources for the ticket resale industry.
Funding
In July 2011 TicketNetwork received a $4.5 million and $1.8 million loan as part of the State of Connecticut's First Five Program, in exchange for hiring at least 200 people over two years time. TicketNetwork also received a $250,000 grant for the training of engineers.[4] TicketNetwork later withdrew from this program after its then CEO, Don Vaccaro, was arrested in February 2012 after allegedly behaving inappropriately while intoxicated. Shortly after the incident, Vaccaro announced he would be taking an indefinite leave from the company to seek treatment for alcohol abuse, but denied that he had behaved inappropriately.[5] On May 29, 2012, Hartford Superior Court Judge, Jane Alexander, agreed that the charges could be dismissed if Vaccaro completed a two-year accelerated rehabilitation program, a form of probation, imposing conditions such as treatment for substance abuse and abstension from alcohol. [6]
Controversies
The ability for any seller to list tickets at any time has resulted in litigation. In 2009 New Jersey's then-Attorney General Anne Milgram filed a lawsuit[7] against several parties, including TicketNetwork, for allegedly selling and advertising tickets before they were available from the venue. The suit was filed by Milgram following reports that primary seller Ticketmaster redirected customers to its TicketsNow website after Bruce Springsteen tickets sold out on Ticketmaster's main website. The case was dismissed in August 2010 after Judge Patricia K. Costello ruled that under federal law TicketNetwork was not liable for incorrect information about the availability of tickets because it was not the seller.[8]
See also
References
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