Ticket sales at the box office are on their way to disappearing. The online shopping experience is becoming more sophisticated and, in Barcelona, the Mobile Media Content startup has been facilitating this transition for ten years.
The technology it develops is state-of-the-art. In the world of sports, it is used by clients such as the NBA, LaLiga or the Premier League and in the cultural sector, it has reached Broadway theaters and the Liceu in Barcelona. “We have created the 3D Digital Venue platform, backed by software that improves the online shopping experience and allows the user to view seat availability in 3D,” says Michele Marino, co-founder of the business together with Francis Casado.
Together, they founded the company in 2012 after gaining experience in the development of software for video games. "We launched into a business because we saw an opportunity to improve the ticketing sector," he recalls. Since then, the company has been financed with its own resources and venture capital. In 2014, it closed its first round of investment worth 500,000 euros and yesterday announced its second capital increase, this time, worth 2.5 million euros.
The operation has been led by Caixa Capital Risc, CriteriaCaixa's venture capital manager, and has had the participation of Spodeal Capital, Limorent, the Ministry of Science and Innovation, other private investors and the two founders, who now control 40% of the property.
“We are going to invest the money from the round in improving technological features and in strengthening our presence in the 18 countries where we operate. We have a presence in Asia but above all we are strong in Europe and the United States, a country that alone already contributes half of our income. We take care of ticket management for five professional sports leagues”, points out the founder of the company, which five years ago opened a commercial office in San Francisco.
The company's business model is nourished by annual subscriptions and also by a commission that varies depending on the size of the venue, the applications contracted or recurrence. This year, the company expects to bill 2.6 million euros, compared to 2.2 million the previous year. Around 60% of the income comes from clients in the world of sports and 40% from the cultural sector.
Marino assures that the company has overcome losses and that every year it reinvests the profits in business growth and RD. In Barcelona, where the technology is developed, Mobile Media Content has a team of 47 people while in San Francisco they work two more people.
