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Tix to Go, Case Study Example

Pages: 1

Words: 246

Case Study

The primary work of Tix to go is online ticketing, but the company also offers online solutions of collection of registration fees, signups for activities, donations, and ticket purchases. It generates its revenue from the commissions on the payments made via its website, souvenir sales and advertising. The places founder, Ralph Marx has an engineering degree and co founded a company concerned with software services and provided services to the legal market. He later also formed his own company called Advocate system.

Ralph Marx founded Tix to go together with lee Taylor and had the expectations that the company would offer online ticketing only. When it started operating, however, they realized there were some services that it could offer far from their expectations. The market was a little different and larger than they had anticipated. The company aimed at that area that the competitor, Ticketmaster, did not cover, and that was the technology community. By the close of 1999, the founders decided to reconsider their plans concerning the entity and put in place a new business plan.

Cordova worked as an advisor in Tix to go before her appointed as CEO of the company. Cordova provides three options for the company to get out of its financial crisis. The first option is the company should seek venture funds in order to finance its future operations. The second option according to her is to bridge finances from venture capital funds or angel investors. The final option provided by Cordova was to find an exit strategy that was immediate. The decision based its considerations on these options as the company had serious financial problems.

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