Moretickets

About Moretickets

Moretickets, initially founded as Ferris Wheel Ticketing in 2015 by Jeff Cui, operates as a prominent online ticketing platform headquartered in Shanghai, China. The company has established a significant presence in the Chinese live entertainment market, a sector experiencing robust growth. It functions as a global live event ticket marketplace, serving consumers by providing a platform to purchase tickets for a wide array of events, including concerts, sports, theatre, dance, and exhibitions.

The company's business model centers on creating a more efficient marketplace by connecting event ticket aggregators and wholesalers directly with end-users. This structure often allows for the sale of tickets at discounted prices, with reports indicating that a significant percentage of tickets on the platform sell for under face value. Moretickets' platform utilizes a multi-channel ticket bidding mechanism, aiming to remove intermediaries and provide access to tickets at lower prices. Its revenue is generated through facilitating these transactions on its platform, which operates in hundreds of cities across China.

Since its inception, Moretickets has secured substantial financial backing from notable institutional investors. The company has raised a total of approximately $110 million over several funding rounds. Key investment rounds include a Series A in November 2016, followed by multiple Series C rounds in 2017 and 2018. Prominent investors include TPG, Qiming Venture Partners, Prometheus Capital, DCM Ventures, and Hillhouse Capital, reflecting strong investor confidence in the company's position within the expanding live events industry.