Ticket2U, Malaysia’s leading online ticketing platform, is opening its gates for the first time to investors to be part of its business expansion plans to other countries in Southeast Asia. The founder of Ticket2U, YC Chia, says that the company needs to raise an estimated RM12 million to RM20 million in funds to accelerate its expansion plans.
“We are looking for strategic partners that are aligned with our ecosystem and believed in our plans,” says Chia. “Through partnerships and investments, we believe we can leverage on each other’s strengths to springboard a new level of win-win in business especially in the aspects of marketing, branding and business expansion knowledge.”
Chia also adds that this is the perfect opportunity for investors to invest in a fast-growing tech company that has already etched its name in the Event Ticketing industry. Ticket2U has been growing rapidly since its launch in 2016 and has been managing the ticketing of many major events in Malaysia within a span of two years.
Investors will be able to see their return of investment as early as two years. “We will be focusing on profit generating in Online Ticketing and Onsite Registration, and aiming to push our revenue to RM100 million in 2022,” Chia shares.
One of Chia’s plans is to replicate this business model in the international market particularly Singapore, Indonesia and Vietnam. “If things worked out in these countries, the profits are estimated to be doubled, or tripled, as the populations in these countries are larger.”
Ticket2U is growing in the event ticketing area. Next, is to offer concert ticketing services for the major players in the market and to penetrate into Onsite Registration services for exhibitions where it can manage registrations, check-ins and even print event badges with its event management system.
Other plans in the pipeline are the launch of its Bus Ticketing service in the third quarter of 2020. Its service includes 500 bus operators in Malaysia, Singapore, Thailand, Vietnam and Indonesia.
Within the same quarter, a launch of its Business Matching App which is highly needed in Malaysia’s conferences, corporate summits, government meetings as it will serve as a platform for exhibitors and delegates to connect and form business relationships during the event.
Ticket2U is also scheduling in its integrated services of Car Park Ticketing which includes License Plate Recognition, Movie Ticketing, Flight Ticketing, e-Payment system and many more. These plans will be announced at a later date.
These growth plans will enable Ticket2U to capture a bigger market share which in effect boosts sales figures and its big data. “This will assure our investors that they will enjoy a profitable return in years to come,” says Chia.