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iTech Capital invests $10 million in Ticketland

0 4 December 2013

Russian fund iTech Capital has made a $10 million investment in Ticketland, which provides a range of ticket related services and is on track to become the largest event-ticketing company in Eastern Europe. 

Ticketland controls three important services in the Russian events market. United Art Tickets, which operates, is a major provider of tickets for concerts, theatre, shows and sports events, while it also offers ERP and e-ticketing services for venues. Ticketland also runs MDTZK, the oldest and largest ticket retail chain in Moscow with 130 outlets, and Arena Group, which processes tickets for sporting events. In total more than 400 people are on Ticketland’s staff.

iTech Capital reckon the Russian sport and entertainment event-ticketing market to be worth more than $1 billion (not including cinema) and claim that it's growing at over 20% a year. Ticketland, which sells 2 million tickets a year and has already turned over $120 million in 2013, is well placed to take advantage of this growth. It currently has more than 50% of the Moscow theatre-tickets market and between 13 and 28% of the market for other events. The company receives 10% for every ticket sold.  

Ticketland CEO Vitaly Vinogradov explained that one of his company’s main goals is to develop e-ticketing services. Currently, e-tickets represent just 15% of the company’s turnover, but Vinogradov says that “With this new investment we are aiming to enhance our online sales channel and raise our e-ticket share up to 50 percent”. 

iTech Capital is a $100 million fund established in 2011. Its average deal size is $10 million, and its portfolio already includes a number of online marketing services from Russia and abroad, including SeoPult, iContext and Garpun.

Managing Partner Gleb Davidyuk commented that

 “Ticketland is a good consolidation of the strongest tech and retail players in the event-ticketing sector. As a value added investor we are happy to provide the company with new opportunities for growth via marketing synergy with key online marketing players in the fund’s portfolio.” 

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