Spanish Startup Ticketbis Exceeds 50 Million Euros In Turnover
● 50% of sales came from Europe
● The new targets for 2015: improve mobile usability and consolidation in new markets.
Ticketbis, the Spanish startup that operates an exchange for buying and selling after-market tickets to events in Europe and South America,, finished 2014 with a turnover of 54 million euros, almost double than that of the previous year.
The site, which competes with a number of other so-called “fan-to-fan” ticket exchanges such as Viagogo, Seatwave, Investors Underground, Stubhub, and Getmein, currently operates in 15 countries worldwide, and claims to be the market leader in Southern Europe and Latin America.
This is the first time the company exceeds the threshold of €50 million ending yet another successful year which was marked by the opening of offices in Asia, the expanse its workforce to over 350 employees and the raising of €5 million in funding.
“We are very satisfied with having met our objectives and with the growth we’ve achieved in each of our key markets. 2014 has been an incredibly interesting year for the industry with several major events having taken place worldwide. We’ve managed to successfully meet the market demands by expanding our presence within the five continents.” states CEO and Cofounder Jon Uriarte.
The start-up, benefiting from exponential growth, has proven to be a safe bet to investors. This constant growth is mainly due to the company expanding its operations into new markets, and consolidation in European, North and South American markets. 50% of turnover comes from Europe, mostly from countries like the UK, Spain, Italy and Germany while 40% comes from Latin America, with most sales coming from Argentina, Mexico, Brazil and Chile. Finally, after only one year of operations in Asia, the continent already accounts for 10% of total revenues. Prospects in the region are highest in advanced markets such as Japan, South Korea and Hong Kong.
Targets for 2015
Ticketbis finished the year with over 22 million unique users. 45% of site’s traffic comes from smartphones/mobile devices and this trend is on the rise. Because of this, the main challenge for the new year will be, in Uriarte’s words, to “advance the mobile version of site by improving usability and mobile conversion rates”. In addition, Uriarte notes that “after a year widespread of rapid growth, we expect 2015 to be full of challenges especially in terms of improving our product and strengthening our position in all markets in order to offer better quality service and to take full advantage of the potential in new markets.