Think back to the last time you attended a concert, sporting event, or music festival with friends. Getting a crew together requires serious planning and, if you hope to sit together, a single person shelling out big bucks for group tickets. It’s almost guaranteed that the purchase of tickets will leave you with a headache — and a never-ending web of Venmo transactions, not to mention organizing your arrivals so that each perso can get into the venue.
Don’t worry — if that last paragraph made your heart rate skyrocket, you are not alone. Fortunately, Fevo is here to help: Launched in 2016, Fevo developed a unique technology that allows groups of people to order tickets that are seated together, but enables each person to pay for their ticket individually. Translation: you’ll never again have to bug that friend who always “forgets” to pay you back.
“Whether it’s two people or a group of twenty people, ticket-splitting is a hassle,” Fevo CEO and co-founder Ari Daie told Built In NYC. “We can fix that by sending enabling split-pay. The core idea is to enable ‘friend-funding’ of all types of experiences and avoid [the] friction that goes into organizing groups small or large.”
The core idea is to enable ‘friend-funding’ of all types of experiences."
Though the company is still in its early stages, Fevo has already partnered with some of the biggest names in ticket sales, including Ticketmaster, Tickets.com and AXS. Daie explained the integration with these other e-commerce platforms: “As the customer is booking on the branded entertainment site, the Fevo group booking experience opens up seamlessly and automatically. There, customers can book the tickets of their choice directly, then send a booking link to the rest of their group. The other group members can then book their own tickets and even invite other participants.”
Customers seem to have caught onto the idea quickly. According to Fevo’s data, they are the fastest-growing ticket sales platform in the last ten years. What’s more, their platform has risen above and beyond the industry standard: whereas a purchase on your average ticket site results in the sale of 2.7 tickets, Fevo users typically buy 32.9 tickets.
As if that weren’t impressive enough, Fevo provides perks for big groups. The more people who join your Fevo purchase, the more likely you are to score perks such as free drinks or VIP seating at your next concert.
NYC as a whole is innovative."
Yet, event tickets are not Fevo’s final frontier. “Fevo is much more than a ticket-splitting company,” said Daie. “In the very near future, Fevo will be involved with splitting things such as hotels, flights, excursions, luxury villas, yachts and other aspects that are needed for travel and hospitality.”
Perhaps it’s not surprising that a blossoming hospitality company has made its home in New York City; as Daie put it, “NYC as a whole is innovative — it is the epicenter of high-end entertainment — from sports to concerts and other live events, there really is no comparison.”
“I’ve spent most of my career working in NYC, and there is nothing quite like the work ethic of someone from this city. NYC moves at a fast pace, and the best of the best come here from around the world, so it’s highly competitive,” he said.
What’s more, simply being in NYC drives Daie and his company to constantly improve: “It’s a great litmus test for understanding your strengths and weaknesses, and pushes me as a CEO to get better at my job every day.”
