New technology from startup ventures is transforming the sports industry. The mission of this series will be to introduce startup companies in the sports technology space to a broader audience and allow Founders of promising new ventures to tell their story. Feel free to contact us if you know of a startup that should be considered for this series.
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Company: Rukkus
CEO: Manick Bhan
Headquarters: New York City
1. What is your elevator pitch?
Rukkus provides fans with tickets to thousands of sporting events as well as concert and theater. Customers can now browse and buy tickets in virtual reality with the aid of our 360° panoramic seat views.
2. Problem & Solution
The secondary ticket marketplace has been around for many years, but it has had a hard time advancing with technology. After growing increasingly frustrated with the ticket buying process and missing out on a number of concerts and big games, Rukkus was developed to provide customers a simple and seamless ticket buying experience.
Unlike some other ticketing companies, Rukkus develops direct relationships with resellers in order to keep inventory up to date and competitively priced. Additionally, Rukkus handles all checkout and fulfillment, unlike competitors that simply redirect fans to partner sites to complete the transaction often leaving them confused and unconfident in their purchase.
3. Market – your target market and the overall market
The secondary ticket market is a $30 billion a year industry with over 85 million tickets purchased annually. Rukkus’ target market is sports and entertainment fans that are looking for the best deal and the easiest way to get into the show/game.
4. Business Model – how do you make money?
Selling tickets. Rukkus has forged relationships directly with resellers that allows for access to billions of dollars worth of inventory to provide to customers at the best prices.
5. Management Team – with titles
Founders
Manick Bhan – CEO & CTO
Joe Messineo – COO
Angela McCrory – Head of Design, UI/UX
6. What else do you want the audience to know about your venture?
Rukkus is excited to announce the release of the newest and biggest app feature to date, Seat360. The Rukkus app now allows customers to browse and buy tickets in virtual reality. Using gyroscope driven panoramic 360° technology, Rukkus has brought a practical application to VR. Rukkus uses real photographs stitched together, unlike competitors that use 3D-rendered images. The seamless and user friendly application includes:
- Mobile entry via your smartphone for major league professional sports and large live music venues
- Data persistence that learns user’s search behavior and provides ‘smart’ results
- Ability to easily share and send tickets to your friends within the app
- Apple’s 3D Touch technology to find ideal tickets in the most efficient manner
- Two-click checkout for fast and secure purchases insured by a 100% buyer guarantee
- iPhone 6s/6s+ and iPad optimization
- Google Cardboard functionality
Bonus Questions:
If you were to invite any CEO to dinner who would it be and why?
I’d love to pick the brain of Chamath Palihapitiya, CEO of Social Capital and an owner of the Golden State Warriors. I admire his insight and what he’s done as a technologist and businessman. I think we share a common belief of what success looks like and the celebration shouldn’t come from just raising funds and valuation, but from building real, tangible value and great product.
If you could go to any sporting event, what would it be and why?
This might be a little out of left field, but I think something like the Home Run Derby would be a blast to go to. It obviously doesn’t hold the same weight as something like a Super Bowl of NBA Finals, but from a sheer entertainment standpoint it looks like everyone has a great time. The analytical part of me thinks there would be a way to use all the advanced metrics and data the MLB has to calculate the optimal seat to catch an elusive home run ball.