Vibe Tickets set for round of funding after £6m valuation

The first fan to fan, ethical ticketing platform, Vibe Tickets, is going for its next round of funding ahead of schedule, due to their success following on from the VOOM competition.

Vibe recently made it to the final three in the #VOOM 2016 Virgin Media competition, and since this has received the support from the Virgin Group and Richard Branson himself.

Luke Massie, founder of Vibe, spent the day at Richards house after the Voom final, meeting his team of experts and associates. Vibe Tickets gained huge public support and have now decided to bring their next round of funding in early, via leading investment crowdfunding platform, Crowdcube.

Luke said: “The Voom thing was a really good experience, the build up of it was quite intense but for us it was more like validation.

"It was amazing to see our fans get behind us in the public voting round, and we wanted to make our company available to them, as it’s important to us as our users play a pivotal part in defining and shaping our product moving forward. Vibe Tickets will truly become the brand for fans, by fans, and we will welcome any genuine fan who is frustrated by the secondary ticket market to be a part of it.”

Vibe Tickets is planning to make 10 per cent of the business available to investors on Crowdcube, and it’s open to everyone- everyday investors, fans, followers, friends, professionals and venture capitalists.

Vibe has already raised over £400,000 to date, and the majority of it has been invested into the technology of the Vibe Tickets platform, making it easy for fans to buy and sell spare tickets.

Following on from their next scheduled fundraise via Crowdcube, they will have raised £1m in the last twelve months, achieving a valuation of £6m in the process.

Vibe is about to launch the latest version of their iOS app which hosts a variety of new features, as well as new profile management and a bespoke chat platform, built by their team of in-house developers.

“We’ve got a really good team around us now and it’s all about perfecting our product and raising some more money which will take Vibe to the next level,” said Luke, who started the business on Twitter two years ago.

“We’re looking to raise an additional £600,000 in the coming weeks, we have some serious investors on board already but we cant wait to open up this amazing opportunity to our followers and fans who have been behind our mission from day 1.

"It’s a really good opportunity for anyone who shares our passion to get involved and be part of something so exciting and disruptive in the market. It’s time real fans stopped getting exploited. “With the support and expertise from Virgin, Richard Branson, our strong management team and of course our amazing users, who have given us real traction in the marketplace, we really have got an exciting few months ahead of us. And I can;t wait to welcome more people to our community.”