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Ticketing platform Xishiqu finished 50m yuan A+ round financing A ticketing platform called Xishiqu finished its A+ round financing of 50m yuan in the fourth quarter of last year. Now, its value is around 400m yuan. The investor is Tronfund. The capital will be used in market expansion, product opti…

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admin 2016-01-23 Collect Review (271)

A ticketing platform called
Xishiqu finished its A+ round financing of 50m yuan in the fourth quarter of
last year. Now, its value is around 400m yuan. The investor is Tronfund. The
capital will be used in market expansion, product optimization and so on.

Xishiqu also acquired 30m
yuan A round financing from China Media Capital before.

Xishiqu is an online
ticketing platform. Its ticketing sales include performance, competition,
exhibition, and city entertainment, covering multiple culture areas. Xishiqu’s tenet
is “Tickets that are unavailable on other platforms can be found on Xishiqu.
Tickets that are available on other platforms are cheaper on Xishiqu.” From
this, we could see their ambition and ideas.

The largest difference
between Xishiqu and traditional ticketing platforms is that both enterprises
and individual are able to set the price and sell tickets freely.

Li Mingwei, the founder of
Xishiq introduced that now the ticketing market is dominated by “agents”. The
existence of multiple level agents makes it harder for customers to have
comprehensive performance information on a single platform. Besides, organizers
also feel it’s hard to control ticket sales according to the reality. But the
free pricing mode by enterprises and individual on Xishiqu could solve those
problems to some extent.

At present, the key point of
Xishiqu’s strategy is ticket sale in the end period. Because the demand of
urgent tickets is huge and traditional ticketing platforms close early, those
needs cannot be meet. Therefore, Xishiqu put end sale at the passion of the
main business. It is said that the ticket volume in the last period may equal
to half of the trading volume of a day.

The mobile app of Xishiqu
launched in March last year. Now, the number of mobile users surpassed two
million. The turnover rate takes up 50%-60%.

Xishiqu started from
Shanhai. Now, its business has reached to ten cities including Beijing,
Guangzhou, Shenzhen, and Hangzhou.

We searched Jay Chuo 2016
Beijing concert on Xishiqu. The categories of official direct sale only have
two kind of prices, 580 yuan and 2280 yuan. Because it’s very hot (tickets are
sold out on Damai and Yongle), all prices have increased by 500 yuan on
average. The 580 yuan tickets raise to 1180 yuan and the 1280 yuan tickets
increase to 1650 yuan, and the 2280 yuan tickets grow up to 3100 yuan.

Though Xishiqu has solved
some of the problems of organizers and upstream and downstream ticketing, in
terms of individual sale, it still needs stricter control from the platform on
whether the seller is scalper or whether the price is reasonable.

Tronfund is a Shanghai
investment management company, which was found in August, 2011. Now, it manages
17 funds, and the total scale of the managed funds is over two billion yuan.
The company mainly focus on three area: energy-saving and environment
protection, bio-medical and health, cultural creativity and consumption Now, in
these areas, it has invested on more than 50 companies such as Sinovel, SF-PV,
Titan, HQKJ and Sulichem.

Peng Zhen, Founder of Tronfund
and Management Co-founder, once was in the real estate industry. Later he
happened to enter the investment business. Peng has more than 15 years’
experience in investing and is one of the earliest Chinese investors in venture
capital and private equityinvestments. Titan Technology,
which was invested by him, wasselected as “top ten most valuable
portfolio.”

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