The arms race between the UK’s online ticket exchanges shows no sign of slowing.
Seatwave has just received a further $17m (£10m) investment from its venture capital backers. The round comes after Viagogo, its main competitor in the secondary ticketing market, raised $15m in February.
Both based in London, there is little love lost between Seatwave and Viagogo, and their respective founders, Joe Cohen and Eric Baker. The sites allow fans and ticket brokers to buy and sell tickets online, with the sorts of money-back guarantees rarely found from the touts loitering outside venues.
With Accel Partners joining existing investors Fidelity Ventures, Atlas Venture, Mangrove Capital Partners and Adinvest, Seatwave’s series D round takes its total financing to $53m. It reunites the company with Accel’s Sonali De Rycker, who helped found Seatwave while at Atlas. Read more
If past experience is anything to go by, it may be time to short Cisco Systems.
Being admitted to the Dow Jones Industrial Average is the ultimate mark of corporate respectability – and it has added 5 per cent to Cisco’s shares today – but the history of techs in the Dow has not been a cheerful one.
For many years the brain trust at the DJIA turned a cold shoulder to tech. Only IBM was admitted to the club – and even Big Blue only made it through the door after it had been around for close to 70 years. Read more
The FT’s Lex column says the netbooks segment should not be overhyped just because it is the only area of growth for the PC industry in a recession:
Light and, above all, cheap, netbooks are useful for casual travellers and children who are more likely to break or lose a computer and can live with less processing power. Business users, who buy half the world’s laptops, will still want something more capable. Read more
The fun and games could not wait for E3 to start this year, with Sony blundering at the weekend with a leak of its big announcement, while a hot new game emerged through Twitter that will not even figure at the big LA trade show.
Sony gave the game away on its new PSP Go handheld console when someone made the mistake of releasing a video and interview ahead of time on the PlayStation 3′s magazine programme – Qore. Read more