NEW YORK, NY, ShooWin Inc, an online ticketing reservation marketplace, has secured an undisclosed amount of funding.
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ShooWin, an online ticketing reservation marketplace, announced today that it has secured a significant capital infusion. The financing was led by Cuneo & Co. and Bellnote Partners LLC. Terms of the investment were not disclosed except that part of the invested capital includes dedicated funds to purchase tickets, which reinforces the company's unique value proposition to ticket rights holders. Coupled with the acquisition of a portfolio of patents, this investment positions ShooWin for accelerated growth in the second half of 2018 and into 2019.
ShooWin is a patented online sports ticket marketplace where fans purchase guaranteed reservations for face value tickets to the biggest playoff or championship games in professional and collegiate sports, including the NFL, NCAA Football, NBA, NCAA Basketball, NHL, and Major League Baseball.
"We are excited to have finalized our fundraising efforts. This new capital positions the company for rapid expansion. It will not only provide sports fans with an even wider variety of reservations to the most sought-after playoff and championship games, but also confirms to our partner teams, leagues, and conferences the stability and creativity of the ShooWin ticket marketplace. In particular, we are very excited about the ticket fund as it demonstrates another way that ShooWin stands apart," said David Lane, CEO of ShooWin.
Gavin Cuneo, who led this investment round, will serve on ShooWin's Board of Directors. "The incredible appetite of sports fans to spend on experiences has driven significant growth in the primary and secondary ticket markets. ShooWin's patented ticket reservations platform creates a significant opportunity for rights holders and we're delighted to be partnered with David and the ShooWin team," said Cuneo.
To further improve its market value as part of this capital raise, ShooWin has purchased a portfolio of intellectual property and cross licenses. The patents cover a wide variety of rights to purchase a reservation on a ticket - whether that is airfare, hotel and hospitality, or contingent sports events where the teams are not yet determined. According to a recent study published by Grand View Research, the online event ticketing market size was valued at USD $46.59 billion in 2017 and is expected to grow at a compound annual growth rate of 4.8% during the forecast period (2018-2025).
"The most stressful, frustrating, and expensive moments for fans are after their team makes the game. Prices for tickets, travel, and hospitality skyrocket leaving fans scrambling to see a game that may have been decades in the making. ShooWin solves all of these problems and lets all fans sit back and truly enjoy the moment because we are going to the game," says Lane.
ShooWin had its best performing year in 2017 and projects to increase revenue by over 500% in 2018. According to Statista, 2018 sports events ticketing revenue is expected to be $4.4B, up 10% from 2017, and growing to $5.8B in 2022.
About ShooWin. ShooWin is an online sports ticket marketplace that sells reservations for highly anticipated, contingent playoff and championship games, allowing fans to purchase tickets at face value. Tickets are offered for sporting events like the Super Bowl, College Football Playoff National Championship, Stanley Cup, and NBA Finals. Fans choose the team, seating section, and the number of tickets. ShooWin collects the reservation fee and when the team makes the game, the fan receives the tickets at face value. ShooWin guarantees to its partners that every ticket is purchased, shares the reservation revenue, and provides valuable fan data throughout the year.
About Cuneo & Co. Cuneo & Co. is the venture capital investment firm of the Cuneo family. Focused on the media, entertainment, and consumer industries, Cuneo & Co. invests in exciting early stage growth businesses across diverse structures. Leveraging its partners' decades of operating experience, Cuneo & Co. takes on a highly active and constructive role partnering with management to generate extraordinary returns.
About Bellnote Partners LLC. Bellnote Partners LLC was established in 2017 to serve as a trusted partner for companies and investors. Bellnote serves as both a principal investor and an advisory firm. Bellnote's partners have more than 50 years of distinct experience in investing, business management, and corporate law.