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FanSnap announced on Monday the company has secured $5.5 million in a new financing round. The investment came from General Catalyst Partners, which already has $5 million invested during a previous funding round.
The proceeds are hopefully going to be enough for FanSnap to complete its search engine, which is currently in beta state. For this the company has to expand their team as well as add new ticketing providers. The current version of this live event ticket search engine for fans, can be found at www.fansnap.com
Mike Janes, CEO of FanSnap, commented: "Feedback from fans and partners on our beta launch has been extremely positive. We continue to sign even more quality partners, with several more to be integrated into FanSnap very soon," said Janes. "Our ultimate goal is to work with every ticketing provider in the U.S."
The system, launched in September this year, has presented new features that were lacking in other search engines. Customers are able to choose from a list of events using various criteria, view tickets for multiple events, determine price distribution of available tickets, compare price offers from different providers as well as view in a simplistic manner the price range by section.
FanSnap states to have over 6 million tickets to display through their website. The number is continuously increasing. Despite the harsh competition in this business, the company seems to have innovations and reserves to push them through. Further, FanSnap already has contracts with most major ticket providers such as Ace Ticket, AllShows.com, Barry's Tickets, Gold Coast Tickets and Las Vegas Tickets. FanSnap currently cooperates with 56 such providers in total. The company offers to find tickets to sports, concerts, and theatre events. And they are keeping the search service free.
