GiggedIn looking to close its $1M capital raise through VentureCrowd
Asia Pacific’s live entertainment subscription service GiggedIn, which offers a monthly curated list of up to 150 concerts, cinema, comedy and other experiences, is looking round out the last 20% of its capital raise.
Using equity crowdfunding through VentureCrowd, GiggedIn is looking to double down on marketing, increase marketshare and fund expansion plans by closing its $1 million capital raise with a final $810,000 in funding.
VentureCrowd website
Having already collaborated with entertainment industry heavy-hitters Event Group, Frontier Touring, and Yours and Owls Festival, as well as Mastercard and The Iconic, GiggedIn’s has also signed a deal with one of the largest music media publishers in Australia, in a partnership to be announced in the near future.
Edwin Onggo, Founder and CEO of GiggedIn, said, “Crowdfunding is a great way for us to give investors an opportunity to join the GiggedIn journey and share in our success. We are excited to partner with VentureCrowd as it provides the right platform to build the GiggedIn brand and our community.
“We are achieving fantastic traction and I’m very pleased with our growth trajectory – this fundraise will allow us to double down on marketing and take GiggedIn to the next level.”
Steven Maarbani, Founder and Executive Director of VentureCrowd, said, “We are excited about the potential of GiggedIn because it has mastered its technology, it has a rapidly growing user base and has the potential to be a truly global business. Alternative investments are gaining traction and equity crowdfunding is becoming a significant pool of new capital within the next few years for Australian startups and SMEs.”
GiggedIn’s ethos is simple: with the knowledge that nine out of 10 shows do not sell out, the company wants to change that statistic by working closely with agents, promoters, and venue groups. With a user experience similar to Spotify or Netflix, GiggedIn has already sent more than 22,000 subscribers to over 2,300 events in Sydney and Melbourne.
Events currently available to GiggedIn Subscribers
By sending more people to gigs and creating value for the industry through increased ticket sales, increased bar and merch revenue, GiggedIn reported its revenue and users are growing on average by nearly 21% monthly,
GiggedIn’s database has also grown to over 50,000 with Edwin Onggo saying a key to its recent success lies with the use its Facebook Messenger Bot.
“We’ve managed to grow our Messenger list to 10,000 in just a few months and our open rates are at 80-95%,” he said. “Our members love it. We get to have a two-way conversation with them on a platform they already spend lots of time on to give them personalised information on the events they care about in an automated way.
“It’s a bit rudimentary now, but it’s our first step towards our investment in artificial intelligence which will fuel a big part of the customer experience we want to create for the future.”
This article originally appeared on The Industry Observer, which is now part of The Music Network.