TWICKETS TO LAUNCH NEW FUNDING ROUND
- Chrysalis Co-founder Chris Wright to lead investment
- Opportunity currently open in private
Monday 31st October: – Face value ticket resale platform Twickets is to undertake a fundraising campaign to enable the business to build on its already impressive growth, and expand the platform internationally. In the UK, Twickets has seen nearly half a million users either download the app, sign up to its web site or follow on social media since it launched.
Original backer Chrysalis Records Co-founder Chris Wright CBE is to lead the investment, while other original backers and further significant investors will be announced soon.
Wright commented: “Online ticket touting is damaging to the industry and deeply affects loyal groups of fans who are ripped-off and left empty handed. In the last eighteen months, Twickets has been steadfastly innovating across the business to make face value resale a convenient solution for fans, so I’m very happy for the opportunity to reinvest.”
Twickets CEO Richard Davies added: “With significant support from the entertainment industry and our loyal followers, we will continue to grow and develop the platform, making it easier and more efficient for fans to resell tickets. We have been extremely encouraged by the level of interest that we’ve received from industry for this round so far, and now look forward to opening up the opportunity to our own community”.
Twickets’ founding board of investors was formed in February 2015 and consists of Tony Wadsworth CBE (former Chairman, EMI Music), Harry Magee and Richard Griffiths (Modest! Management), Ian McAndrew (Wildlife Entertainment), Steve Parish (Co-owner, Crystal Palace FC), as well as Chris Wright CBE.
With the funding round currently held in private mode, potential investors should direct all enquiries to Richard Davies at Richard@twickets.co.uk. Further details of the campaign will be announced in due course.
Twickets is a fan-to-fan ticket resale platform that operates with a face-value policy. Available on web, mobile and social media it is the official resale solution for artists such as Adele, Mumford & Sons, One Direction, The 1975, and Catfish and the Bottlemen, as well as some of the UK’s leading festivals. Twickets fully protects its users with a guarantee against fraud and overpricing and serves to steer fans away from the exploitative secondary ticketing platforms.
About Chris Wright
Chris Wright co-founded the Chrysalis Group, including Chrysalis Records, in 1968. Apart from developing Chrysalis Records into one of the major independent record companies in the world, he also developed Chrysalis Music Publishing into a major Music Publishing company. After selling the record company in 1991, he went into the radio business, building Chrysalis Radio, through its brands like Heart and LBC, into one of the largest radio companies in the UK, and developed the first super indie television production business. He has also owned Queens Park Rangers football club and, for many years, Wasps Rugby Club.
He is still involved in the record business as a co-owner of the recently reacquired Chrysalis Records, and founder and chairman of a new television production company, Chrysalis Vision.