FANSNAP SECURES $5 MILLION IN FUNDING
Highland Capital Partners Invests in Leading Ticket Search Engine
PALO ALTO, CA -- FanSnap, the largest live event ticket search engine for fans, today announced it has raised $5 million in new funding from Highland Capital Partners. Richard de Silva, General Partner at Highland Capital Partners, will assume a seat on FanSnapâ€™s board of directors.
â€œWe believe FanSnap will transform the ticket-finding experience so millions of fans can easily find live event tickets in the dynamic, fragmented, and sometimes confusing ticket market,â€ said de Silva. â€œIt is clear that FanSnap has the team, product momentum, and partnerships to successfully execute this vision. Highland is thrilled to be a part of it.â€
The FanSnap (http://fansnap.com) search engine currently displays detailed ticket-level results from dozens of ticket providers, with more than twelve million sports, theatre and concert tickets to more than thirty thousand events. FanSnap plans to use this funding, together with existing funding from General Catalyst Partners, to extend its product and category leadership.
â€œWeâ€™re very pleased to welcome Highland as our newest outstanding investor and key partner to help FanSnap achieve its business goals, especially in this economic environment,â€ said Mike Janes, CEO and co-founder of FanSnap, and formerly CMO of StubHub. â€œWe are thrilled to have Richard de Silva on the FanSnap board as a sign of support for our mission to grow the live event ticket space by creating the worldâ€™s best ticket search engine.â€
The FanSnap ticket search engine launched in March 2009 with several industry-first features, and has been continuously improved since launch. The most prominent feature of the ticket search engine is its patent-pending dynamic FanSnap Mapssm, which allow fans to:
- Determine at-a-glance the ticket price range by section using colored "heat map" markers,
- Zoom into the interactive maps and see the ticket offers from numerous providers placed in clearly labeled rows.
Two new powerful features recently added to FanSnap are:
- Best Values, which make it easy for fans to view at-a-glance the lowest price tickets available in key areas of the venue, easily identified as blue stars on the FanSnap Maps.
- Ticket and List Sharing, which make it easy for fans to share not only events, but one or more actual ticket listings, via Facebook, Twitter, or email.
At Highland, Mr. De Silva is focused on digital media investments with specific experience and interest in online advertising, online media properties, consumer payment systems and consumer media technologies and infrastructure. He also serves on the board of Affine Systems, Digg, Metacafe, NameMedia and US SEARCH, and is, or has been actively involved in Highland's investments in Fastclick (IPO, sold to ValueClick) and Quigo (acquired by AOL).
FanSnap is the leading online ticket comparison shopping site. Fans use FanSnap to shop 50+ of the most trusted secondary market ticket sites for the best deals on sports, theater and concert tickets. Partners include TicketsNow, TicketNetwork, StubHub, RazorGator, Las Vegas Tickets, Gold Coast Tickets, eBay, Barry's Tickets, AllShows.com, Tickets-for-Charity and Ace Ticket. Our detailed ticket-level search results are made possible by the combination of strategic industry partnerships and systems integration, as well as our FanSnap TicketDatasm systems and patent-pending dynamic FanSnap Mapssm.
In addition to Fansnap.com, FanSnap powers ticket comparison shopping for media partners including: TimeWarner's RoadRunner.com, PollStar, Philly.com and STATS Inc. partner sites. Palo Alto, CA-based FanSnap was founded in 2007 and is funded by General Catalyst Partners and Highland Capital Partners.
About Highland Capital Partners
Highland Capital Partners was founded with the mission of helping great people build great companies. Since its inception in 1988, the firm has taken a sector-focused approach to investing in exceptional communications, consumer, digital media, healthcare and information technology companies. With over $3 billion of committed capital and offices in Boston, Silicon Valley, Shanghai and Geneva, Highland has invested in and worked to create such firms as Ask Jeeves, Avid Technology, CheckFree, Conor Medsystems, lululemon athletica, Lycos, MapQuest, Navic Networks, Ocular Networks, P.A. Semi, Quigo, Starent Networks, Sybase, Telica and VistaPrint. For more information, visit Highland's web site at www.hcp.com.