Just Launched: Investor Behind Skype Bets Big on Online Ticket Social Network LiveStub
Morten Lund, the investor behind Skype has just launched his latest venture, LiveStub.com, a social network dedicated to reselling tickets to events, concerts, you name it.
Making money from reselling tickets is one of the oldest gigs going (as old as gigs themselves) and a hotbed for scam artists. So, what better place for Lund to put his financial muscle to create a legit site and do for ticket selling what Skype did for long distance calling?
According LiveStub, some ticket resale sites tack on additional fees of up to 25 percent that cut into sellers’ profits and raise costs for buyers. LiveStub allows users to post their listings for free, cutting out what LiveStub co-founder, Michael Hershfield, calls “glorified middlemen.”
”It is time for a ‘fan driven ticket site’ that was truly created with the needs of the fans, both buyers and sellers, in mind,” stated Morten Lund “By offering a platform that quickly and efficiently connects buyers and sellers based on location, and does not attach inflated fees for either party, LiveStub will help grow the secondary ticket market amongst the general public,” Lund said.
Apparently, Lund is betting big. With this investment, LiveStub will become the top site in the “secondary ticket market” which sees nearly $5 billion dollars in annual sales.
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This entry was posted on Monday, August 25th, 2008 at 7:56 am and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
