Lyte raises $15m for ‘post-primary ticketing’
The fan-to-fan ticketing site, which has partnerships with Eventbrite, Front Gate and Elevate Tickets, uses dynamic pricing to undercut the secondary market
News By | 9 October 2019
Ticket exchange Lyte has raised US$15 million in a series-A funding round to further its mission of creating a “new category in live events: post-primary ticketing”, the company has announced.
US-based Lyte is a fan-to-fan ticket market that connects those no longer able to attend a sold-out event with those who wish to. Buyers can purchase tickets at a much lower price than those offered the secondary market, because Lyte uses dynamic pricing to keep prices below those offered by “third-party scalpers and shady marketplaces”.
Lyte’s ticketing partners include Eventbrite/Ticketfly, AEG’s Elevate Tickets, Live Nation’s Front Gate Tickets and Universe, and Patron Technology’s ShowClix, which it claims to empower to “own the secondary market” by capturing around 60% of the value that would otherwise be…
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