Deals

Russia’s Ticketland books $10M in funding

Image Credit: Shutterstock/Rob Byron

Russian firm iTech Capital has pumped $10 million into Ticketland, a 400-employee outfit that calls itself Eastern Europe’s biggest event ticketing company.

The new money will help Ticketland focus on online sales and electronic ticketing, which currently makes up around 15 percent of the company’s business. (In Moscow, Ticketland has set up e-ticketing at around 120 venues in the city.)

Reps for Ticketland tell us via email the startup will take in a total of $120 million for 2013, and tickets sold will exceed 2 million for around 40,000 unique events.

The total market for sports and event ticketing in Russia is estimated to be around $1 billion and is expected to grow 20 percent year over year.

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