Tixtogo: Financing
MGT4570
Global Entrepreneurship
Case study
_TixToGo: Financing_
_A Silicon Valley_
_Start-up_
Name: Choi Ying Kai
SID: 06523393
Date completed: 14-10-2007
On seeing the lack of web services for ticket booking and also unexplored niche markets requesting for seat reservation of venues with less than 200 seats, TixToGo designed a self-service site to individuals and organizations to facilitate collection of registration fees, ticket purchases, donations or sign-ups for activities over the Internet, believing that the dynamics of the Internet would allow strong growth potential and lucrative returns.
The strengths of this company's business model are on its market potential and competitive advantages. Responding to event organization, …show more content…
There are several reasons: (1) the two co-founders failed to finance sufficient funds from venture capitalists or angel investors; (2) the company had not yet employed the right number and profiles of executives for company expansion or financing; (3) at introduction stage, the total number of deals is low and the gross margin could not cover the operating expenses, including salaries and sales commission, contributing to a large sum of deficit; (4) the company did not employ a strong sales force to promote sales …show more content…
Yet, people come first since they represent credibility and intelligence. Building a top-notch management team that could appeal the investors and run the company well is of utmost important. Thus, Cordova should first lure some experienced, risk-seeking executives who share similar vision on the company, possibly her colleagues, to join TixToGo and strive to convince investors for financing. Next, in order to boost up traffics, they should improve the site layout and user-friendliness as well as employ a strong marketing force to aggressively promote their service platform. Only with a promising valuation from venture capitalists could they achieve the budgeted optimistic expectations and gain investors' confidence. Finally, they may also consider rename their brands so that people would easily get access to their site. One possible way is to give away luxury prize for the most brilliant name to draw people's attention.
In 1999, TixToGo is visionary spotting the market opportunity. They correctly anticipated the growing popularity of e-commerce and their business model has infinite potential and scalability. Taking the elite management team into account as well, it appeared to me that the company is going to experience huge growth and able to sustain in at least ten years'
Global Entrepreneurship
Case study
_TixToGo: Financing_
_A Silicon Valley_
_Start-up_
Name: Choi Ying Kai
SID: 06523393
Date completed: 14-10-2007
On seeing the lack of web services for ticket booking and also unexplored niche markets requesting for seat reservation of venues with less than 200 seats, TixToGo designed a self-service site to individuals and organizations to facilitate collection of registration fees, ticket purchases, donations or sign-ups for activities over the Internet, believing that the dynamics of the Internet would allow strong growth potential and lucrative returns.
The strengths of this company's business model are on its market potential and competitive advantages. Responding to event organization, …show more content…
There are several reasons: (1) the two co-founders failed to finance sufficient funds from venture capitalists or angel investors; (2) the company had not yet employed the right number and profiles of executives for company expansion or financing; (3) at introduction stage, the total number of deals is low and the gross margin could not cover the operating expenses, including salaries and sales commission, contributing to a large sum of deficit; (4) the company did not employ a strong sales force to promote sales …show more content…
Yet, people come first since they represent credibility and intelligence. Building a top-notch management team that could appeal the investors and run the company well is of utmost important. Thus, Cordova should first lure some experienced, risk-seeking executives who share similar vision on the company, possibly her colleagues, to join TixToGo and strive to convince investors for financing. Next, in order to boost up traffics, they should improve the site layout and user-friendliness as well as employ a strong marketing force to aggressively promote their service platform. Only with a promising valuation from venture capitalists could they achieve the budgeted optimistic expectations and gain investors' confidence. Finally, they may also consider rename their brands so that people would easily get access to their site. One possible way is to give away luxury prize for the most brilliant name to draw people's attention.
In 1999, TixToGo is visionary spotting the market opportunity. They correctly anticipated the growing popularity of e-commerce and their business model has infinite potential and scalability. Taking the elite management team into account as well, it appeared to me that the company is going to experience huge growth and able to sustain in at least ten years'