iTech Capital invests $10m in Ticketland

The funding will allow Ticketland to bolster its e-ticket operations by improving its online sales channel through new services and a big-data analytics platform, to analyse user behaviour. Currently, e-ticket sales make up just 15% of Ticketland's turnover and its CEO, Vitaly Vinogradov, aims to increase this share in the company's turnover to 50%.

According to the company, Russia's sport and entertainment event ticketing market has an annual growth rate of 20% and already exceeds $1bn, without including the cinema market.

iTech, a Moscow-based venture capital firm, typically invests up to $10m in a company over a three- to five-year holding period from its $100m fund, which was launched in 2011.

The firm focuses its investments on the digital economy space, namely technology, media and telecommunications such as online gaming, IT outsourcing and e-banking; new media such as social networks; and later-stage, revenue-generating biotech and nanotech projects.

Company
Headquartered in Moscow, Ticketland currently employs more than 400 staff and generates turnover of $120m.

The group comprises three ticket companies in Russia: United Art Tickets, a provider of event tickets as well as enterprise resource planning software and e-ticket platforms for venues; MDTZK, Moscow's largest ticket retail chain with 130 outlets; and Arena Group, which sells tickets for sporting events.

According to the company, it markets in excess of 2 million tickets for more than 40,000 events each year through its bricks-and-mortar outlets and internet platforms. Ticketland also claims that it holds a 50% share of the theatre ticketing market in Moscow and 13-28% shares of other segments.

People
Vitaly Vinogradov is the CEO of Ticketland. Gleb Davidyuk is a managing parter at iTech.

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• Topics
• CEE
• Consumer
• Expansion
• Russia