Seatwave name new boss as ticket site turns a profit

 

Ticket resale website Seatwave today named the former chairman of Shazam as its new boss, as the company revealed it was in profit for the first time thanks to sell-out concerts like the Rolling Stones.

New chief executive Ajay Chowdhury replaces Seatwave’s founder Joe Cohen, who became non-executive chairman in January.

As well as time at music-recognition app Shazam, Chowdhury was chief executive of cloud-based retail tech firm ComQi and is a non-executive director on the board of the Department of Culture, Media and Sport.

Seatwave, founded in 2006, is one of the ‘big four’ online resale marketplaces, where fans can buy and sell tickets for music, sport, comedy and theatre. The site guarantees all tickets sold on the platform and take a percentage of sales.

The site and its competitors – viagogo, StubHub and Getmein – have attracted controversy, with critics saying the sites help touts to exploit fans. Chowdhury dismissed the criticism, saying: “The majority of sellers are fans who want to sell their tickets for a variety of reasons. A significant number of tickets are sold at below face value. If they are sold at more than face value it is a result of demand for the event.“

He called London-based Seatwave a “British tech success story” and revealed the firm was in profit for the first time in its seven year history, with ticket sales on the site close to $100 million a year. He said acts like Leonard Cohen, Roger Waters and Michael Buble had all been selling well, while last year’s Rolling Stones concerts were “really good” for the firm.

Chowdhury plans to increase Seatwave’s mobile presence as well as introduce event discovery features, social options and post-event offerings.

He said: “There are some really interesting opportunities here. Building off the success we’ve had with ticketing, we want to see what we could offer in these other areas.” Chowdhury said new features would begin to be introduced in the first quarter of next year.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Sales Assistant / Buyer

£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...

Recruitment Genius: Customer Service Advisor

£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....

Recruitment Genius: Compliance Manager

£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...

Day In a Page

Greece debt crisis: What happened to democracy when it’s a case of 'Vote Yes or else'?

'The economic collapse has happened. What is at risk now is democracy...'

If it doesn’t work in Europe, how is it supposed to work in India or the Middle East, asks Robert Fisk
The science of swearing: What lies behind the use of four-letter words?

The science of swearing

What lies behind the use of four-letter words?
The Real Stories of Migrant Britain: Clive fled from Zimbabwe - now it won't have him back

The Real Stories of Migrant Britain

Clive fled from Zimbabwe - now it won’t have him back
Africa on the menu: Three foodie friends want to popularise dishes from the continent

Africa on the menu

Three foodie friends want to popularise dishes from the hot new continent
Donna Karan is stepping down after 30 years - so who will fill the DKNY creator's boots?

Who will fill Donna Karan's boots?

The designer is stepping down as Chief Designer of DKNY after 30 years. Alexander Fury looks back at the career of 'America's Chanel'
10 best statement lightbulbs

10 best statement lightbulbs

Dare to bare with some out-of-the-ordinary illumination
Wimbledon 2015: Heather Watson - 'I had Serena's poster on my wall – now I'm playing her'

Heather Watson: 'I had Serena's poster on my wall – now I'm playing her'

Briton pumped up for dream meeting with world No 1
Wimbledon 2015: Nick Bollettieri - It's time for big John Isner to produce the goods to go with his thumping serve

Nick Bollettieri's Wimbledon Files

It's time for big John Isner to produce the goods to go with his thumping serve
Dustin Brown: Who is the tennis player who knocked Rafael Nadal out of Wimbeldon 2015?

Dustin Brown

Who is the German player that knocked Nadal out of Wimbeldon 2015?
Ashes 2015: Damien Martyn - 'England are fired up again, just like in 2005...'

Damien Martyn: 'England are fired up again, just like in 2005...'

Australian veteran of that Ashes series, believes the hosts' may become unstoppable if they win the first Test
Tour de France 2015: Twins Simon and Adam Yates have a mountain to climb during Tour of duty

Twins have a mountain to climb during Tour of duty

Yates brothers will target the steepest sections in bid to win a stage in France
John Palmer: 'Goldfinger' of British crime was murdered, say police

Murder of the Brink’s-MAT mastermind

'Goldfinger' of British crime's life ended in a blaze of bullets, say police
Forget little green men - aliens will look like humans, says Cambridge University evolution expert

Forget little green men

Leading evolutionary biologist says aliens will look like humans
The Real Stories of Migrant Britain: An Algerian scientist adjusts to life working in a kebab shop

The Real Stories of Migrant Britain

An Algerian scientist struggles to adjust to her new life working in a Scottish kebab shop
Bodyworlds museum: Dr Gunther von Hagens has battled legal threats, Parkinson's disease, and the threat of bankruptcy

Dying dream of Doctor Death

Dr Gunther von Hagens has battled legal threats, Parkinson's disease, and the threat of bankruptcy