The Ledger
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Event crowdfunding models fail due to low customer lifetime value
“The problem with that is that there's no lifetime value of that customer. Once they get sort of market validations, it's gone.”
Parmar says the B2B segment generates the majority of Picatic's revenue
“The B to B aspect of that is, is, is definitely the much bigger piece of the pie.”
Picatic charges $1 plus 2.5% commission per ticket on Pro tier
“The pro product is a commission base. It's a base. It's a base rate. Nathan Latka: What's the base? Jayesh Parmar: A dollar. Nathan Latka: Okay. Jayesh Parmar: and then the commission around 2.5% per ticket.”
Picatic enterprise and API tiers range from $5K to $100K monthly
“It can range anywhere from five grand to a hundred grand a month.”
Picatic hit approximately $30M in gross ticket revenue in 2016
“We're around thirty million dollars of gross ticket revenue around, around the park.”
Picatic offers free ticketing for events with tickets under $18
“We allow event organizers that are selling tickets around under 25 dollars or 18 dollars in the United States. To go out there and use our platform, sell tickets, organize tickets, manage tickets, and the whole idea around that is for community events or peopl…”
Parmar acquired early customers by personally working event doors
“I mean, I'll tell you in the early days, people, people thought this was a scam or they didn't understand exactly what was going on. I actually went out there and set up their events, work their door and just did everything for them.”