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Anyone who’s ever missed a show because of a change of plans will welcome a new update to SeatGeek‘s platform. Starting today, anyone can sell tickets on SeatGeek’s ticket marketplace.
SeatGeek is a digital bazaar for concert, sports, and performance tickets. It aggregates from a variety of marketplaces including Telecharge and Spectra, but prior to today customers weren’t able to post tickets for sale directly to the site. Now, through its website, users can upload and sell tickets on SeatGeek. Once uploaded, SeatGeek will recommend a price for the tickets based on market demand. If the suggested price doesn’t suit, users can always set their own fee.
SeatGeek takes a 15 percent cut of ticket sales placed in its marketplace. To pay out users, the company hooks into peer-to-peer payment app Venmo.
Only web users will be able to sell tickets on SeatGeek’s marketplace right now, though the company says this functionality will be coming to its mobile iOS app in a few weeks. In the meantime, iOS users can sell or transfer tickets to people they know for free.
For SeatGeek, allowing customers to resell tickets could help generate more tickets sales. If a customer feels confident they can be reimbursed if they’re not able to make a show, they might be more inclined to hit the buy button.
The update follows Pandora’s acquisition of SeatGeek competitor Ticketfly for $450 million. SeatGeek has made a name for itself as one of the largest ticket aggregators — a sort of Kayak for events. In April the company raised $62 million, bringing its total funding to $102 million.
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