Ticketing is a $150bn industry. As consumers increase spending on experiences over things, Coras enables the biggest online brands to sell tickets for music, sport & attractions. We've connected multiple ticketing systems into a single system opening up this market to new players for the first time.
The problem as we see it, is that the sale of tickets is controlled by a limited number of online sellers such as Ticketmaster. This leads to high booking fees & poor customer service. We believe that the primary blocker to new entrants is that ticketing inventory for different events and attractions are sold through many different systems. So if a travel company wanted to sell tickets they would have to partner and integrate with multiple systems.
Combining multiple ticketing systems into a single system enables these entrants to come into the market. It gives consumers the choice to purchase from the online seller they want & also give the suppliers (sports teams, tourist attractions etc...) a much bigger distribution network of potential customers.
Our marketplace suppliers include West End Theatre tickets, Premier League football and tourist attractions. On the distribution side, we've partnered with Europe's largest airline, Ryanair, Frontier Airlines in the US and Tix.co in Australia. We have signed other distribution partners in Europe & Asia which we'll announce in the coming months.
Coras spends 85% of its capital on software development so the focus is very much on building the best product that can scale with its distribution and supplier partners.