FIXR is a free smartphone app (iOS and Android) reinventing the nightlife and event industry – UK wide and soon to be across Europe. It’s democratising ticketing in the nightlife and events industry, which has been slow to adapt to the needs of an ‘on-demand’ generation.
KITE Invest: How will you continue to evolve the welcome received by customers since the launch of FIXR only one year ago?
Nick Stone: Since we launched, we have seen excellent month on month growth as we roll out new venues and events across the country. We are working in a number of key markets. From a grass roots level we aim to be more than just a utility; we aim to become integral to your night out.
KITE: FIXR targets tech-savvy 18-30 year olds who want to buy tickets for nightlife and events. What competitive advantages stand out from using this app?
NS: We see our demographic as the ‘on-demand’ generation. People love going out, but they hate the hassle of getting into a venue. So what we do is make the night out certain. FIXR secures your place before you reach the door, and our customers really appreciate no cash, no queues and the ability to make decisions on where they want to go out at the last minute. In an industry reliant on paper ticketing, we saw the moment was ripe to use technology to make going out easier.
For event organisers, we provide an end-to-end ticketing system that’s being used from the biggest nights at Ministry of Sound, to the smallest student pub-crawl. We aim to democratize ticketing: anyone should be able to use our service!
KITE: Is FIXR thinking on broadening its niche into other events, such as sporting events or any other?
NS: We are currently very focused on this particular vertical. However we would rule nothing out in terms of geographical and/or sector expansion.
KITE: Starting with six event organizers as partners in London, FIXR counts to date over 60 in London, Oxford, St Andrews, and Newcastle. How do you value the response given by event organizers up to now and how does FIXR envision itself to align with other event organizers within the UK?
NS: We have had a terrific response from all segments of the industry and we hugely appreciate the support and enthusiasm we have received. The industry recognizes the need for change, as it largely relies on legacy systems such as paper ticketing, and web ticketing with the need to print out tickets. We measure and value the response by the speed we have grown and the willingness of event organisers to use our free service.
KITE: Does FIXR have plans to expand its services to other strategic locations within Europe?
NS: From a technological perspective, the timing is perfect for expansion into Europe. We are focused firmly on UK expansion right now, but are already in talks with key partners to expand into key European clubbing destinations this summer.
KITE: FIXR has established 10 partnerships with some leading technology businesses, such as LG Corporation. Please shed light on FIXR ́s plans to set new technology businesses partnerships and share your opinion on how these agreements have added value to reach out new customers?
NS: The LG deal demonstrated FIXR’s ability to work with much larger partners to benefit our customers. We see ourselves as a hub for best of breed services which will enhance the nightlife experience. As such, 2015 will see partnerships with both fledgling but fast paced companies and also major brands across different industries. We believe that working with the best brands will benefit all of our customers. We have natural partners, and I am excited to start integrating them into the FIXR experience in the coming months.
KITE: FIXR has already raised substantial seed capital split across three equity-funding rounds (2013 and two in 2014). FIXR will be looking for new investment rounds later in the year. What do you envision the relationship with an investor to be like and what would you highlight that FIXR could offer in return?
NS: We are extremely fortunate that our shareholders have been supportive from the outset. Our latest round incorporated institutional investment from FSE Group. We also added some new HNW’s to the group. We were looking for investors who understood the sector and appreciated the reality of building a consumer business. There is a certain amount of glamour associated with tech businesses, but the reality is much more about hard work and graft. As such we will look for investors who bring more than money – ideally strategic investors who are well connected in our space. What we offer is exposure to one of the last non-digital industries, in a market that is truly global.