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NEW TO GROWTHWIRE? Growthwire is an investment and corporate venturing intelligence service meeting the unique needs of growth and alternative fund managers, CEOs and other business leaders. |
| Headline |
POSSE Second Round Fund Raising |
| Investment Stage |
Early-Stage
Private Placement |
| Sectors |
IT/Internet - e-Commerce
IT/Internet - On-Line Consumer
IT/Internet - Other |
| Deal Value |
1,500,000 |
| Currency |
USA - US$ |
| Country/Region |
Asia Pacific Australia NSW |
| Summary |
Posse: For Love and money.
Posse’s online model is transformational in social networking. Posse enables fan-to-fan sales of concert tickets; empowering people to promote their favourite bands to their friends and earn a commission for doing so. The model however is NOT an affiliate marketing strategy. The power of Posse is that it taps into the existing social behaviour of people wanting to share what they already love and are passionate about with their existing friends and networks and rewards them financially for doing so.
Posse’s model, while currently focused on concert tickets, is more Amway for Generation Y; people monetising their social networks with products and services they already love and are passionate about. Concert tickets provides an easy global entry for Posse given the team’s background and experience as well as the necessary culture credibility earnt with online social networks. Sports ticketing and merchandising are next. The range of products and services however that would eventually suit Posse’s model is huge and extends significantly beyond leisure and entertainment and merchandising.
The Australian site is live and generating revenue and the US site goes live late July and the UK shortly after that – probably early August.
Posse has signed or is finalising term sheets with and is currently integrating with or are integrated with: MySpace, Ticketmaster, LiveNation, See Tickets, Moshtix, Ticketek and Bigpond amongst others. We are now moving into the sports ticketing sector and expect to be able to announce similar partnerships shortly there as well.
See Posse.com
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