Vibe raises £300,000 in 24 hours
Vibe Tickets has raised more than half of its £600,000 crowdfunding goal after just 24 hours.The online ticketing platform, which promises to resell tickets ethically, was founded by 23-year-old Young 'Un Luke Massie who took to crowdfunding website Crowdcube to seek extra investment.
If Vibe raises the full amount within the next month, the business will be valued at £6m and will use the cash raised to expand its online offering.Tech investor Scott Fletcher, who has put up £260,000 through the crowdfunding website, said of Luke: “He’s a force of nature. His vision and passion is infectious and goes to show that age is irrelevant when it comes to business.
“Vibe Tickets has the potential to disrupt the industry and that really appeals to me. I’ve got no doubt Luke will smash his £600,000 target but I think it’s vital that tech entrepreneurs like me get behind great businesses and great people.”Fletcher isn’t the only entrepreneur who sees potential in the youngster. Tech specialist Matt Newing already invested £200,000 during Vibe’s first round of funding, which amassed £400,000 in total, Lancashire County Council has invested £5,000, and earlier in the summer Massie even turned the head of Virgin boss Sir Richard Branson.
Vibe Tickets made it all the way through to the live final of Virgin’s Voom business competition and, despite not winning, still walked away with £20,000 prize money.“Not only did I get the chance to pitch to someone of the stature of Sir Richard but I got through to the last three and received the sort of advice that money can’t buy,” said Luke. Vibe has until mid-September to reach its funding goal of £600,000.