FEVO is the group ticketing platform that allows friends to plan and purchase experiences together.
Questions and Answers
What issues are you solving?
FEVO is a social commerce platform that connects people to the items and experiences they love with the people they trust most. But what does that mean? The current buying process, searching online, adding items to a cart and purchasing is antiquated. Humans are social beings, we want to share ideas, items, we seek validation and opinions from peers, and relish shared experiences. By enabling consumer engagement on partner brand domains, FEVO turns the checkout experience from a solitary, inefficient transaction into an enjoyable, shared experience, resulting in higher consumer loyalty, more sales and more data.
Why should we be excited by you?
This is the way shopping was meant to be: shared fun with our closest peers. Brands have long relied on social platforms to meet consumers where they are, and missed out on the resulting engagement because it occurs off their domain. FEVO empowers brands to reclaim their social, with the power of Collective Commerce™. If that's not exciting, we don't know what it is.
Who are your target customers?
Our target customer is any brand who wants to reclaim their engagement on their own terms away from social platforms, amplifying consumer awareness through social "network effect," which establishes a community around their product offerings. Our initial customer base was rooted in live events, with over 600 partners throughout professional sports, music and venues. Now, FEVO is everywhere you shop, partnering with D2C brands in the retail, fashion and wellness industries, travel and hospitality and more.
What is your business model?
We have a simple business model: charging a percentage of each sale. Some of our partners push this cost to their end consumers, while others take it on as a cost of doing business with FEVO (and reaping the rewards of the platform's social amplification networks).
What market traction do you have?
We’re currently working with the majority of sports organizations in North America and quickly achieved near-dominant market share of the live general admission events space. There are upwards of 10,000 business-side users leveraging FEVO for their sales and marketing initiatives. We have a consumer database of millions, with continued growth expected. In 2019, we transacted over $100 million in ticket sales. As of 2019, our platform conversion rates hover around 8%. The built-in Collect Commerce™ tool helps us trend 2-3x above industry standards and have resulted in significant revenue growth for our live events partners.