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Seatwave, a UK website which provides a marketplace for fans to buy and sell second hand tickets for concerts. theatre and sports events, has received $8m (£4m) in Series B funding.

The funding was led by Mangrove, and managing Partner Mark Tluszcz will join the Seatwave board. Also investing were German entrepreneur Oliver Jung and Atlas Venture, which had previously invested $3m (£1.5m) in a first round of funding last year.

The site was launched in February this year by Joe Cohen, who had previously worked for Match.com and Ticketmaster.

According to Fred Destin of Atlas Venture, Seatwave already has over 400,000 tickets for sale on the site, 20 times more than eBay offers. Hitwise statistics put the site in the top 15 of the ticketing website category,

It has a strong competitor in the shape of Viagogo.com, which was launched last year by Eric Baker of US ticket reseller StubHub, recently acquired by eBay.

Viagogo is also well funded, having raised $20m from Index Ventures and others. It is also backed by lastminute.com founder Brent Hoberman and David Katz, head of Yahoo’s sports and entertainment unit.

At the moment, it appears that Seatwave is leading the pack - Vecosys has some stats from Hitwise which show some impressive growth.

Graham Charlton

Published 6 June, 2007 by Graham Charlton

Graham Charlton is the former Editor-in-Chief at Econsultancy. Follow him on Twitter or connect via Linkedin or Google+

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Mike Butcher

And check out our interview with Joe on tbites.com

about 9 years ago

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