FanSnap Announces $5 Million in Funding From Highland Capital Partners

FanSnap Announces $5 Million in Funding From Highland Capital Partners

PALO ALTO, CA (FanSnap) August 13, 2009 - FanSnap, the largest live event ticket search engine for fans, today announced it has raised $5 million in new funding from Highland Capital Partners. Richard de Silva, General Partner at Highland Capital Partners, will assume a seat on FanSnap’s board of directors.

“We believe FanSnap will transform the ticket-finding experience so millions of fans can easily find live event tickets in the dynamic, fragmented, and sometimes confusing ticket market,” said de Silva. “It is clear that FanSnap has the team, product momentum, and partnerships to successfully execute this vision. Highland is thrilled to be a part of it.”

The FanSnap (http://fansnap.com) search engine currently displays detailed ticket-level results from dozens of ticket providers, with more than twelve million sports, theatre and concert tickets to more than thirty thousand events. FanSnap plans to use this funding, together with existing funding from General Catalyst Partners, to extend its product and category leadership.

“We’re very pleased to welcome Highland as our newest outstanding investor and key partner to help FanSnap achieve its business goals, especially in this economic environment,” said Mike Janes, CEO and co-founder of FanSnap, and formerly CMO of StubHub. “We are thrilled to have Richard de Silva on the FanSnap board as a sign of support for our mission to grow the live event ticket space by creating the world’s best ticket search engine.”

The FanSnap ticket search engine launched in March 2009 with several industry-first features, and has been continuously improved since launch. The most prominent feature of the ticket search engine is its patent-pending dynamic FanSnap Mapssm, which allow fans to:

-Determine at-a-glance the ticket price range by section using colored “heat map” markers,

-Zoom into the interactive maps and see the ticket offers from numerous providers placed in clearly labeled rows.

Two new powerful features recently added to FanSnap are:

-Best Values, which make it easy for fans to view at-a-glance the lowest price tickets available in key areas of the venue, easily identified as blue stars on the FanSnap Maps.

-Ticket and List Sharing, which make it easy for fans to share not only events, but one or more actual ticket listings, via Facebook, Twitter, or email.

At Highland, Mr. De Silva is focused on digital media investments with specific experience and interest in online advertising, online media properties, consumer payment systems and consumer media technologies and infrastructure. He also serves on the board of Affine Systems, Digg, Metacafe, NameMedia and US SEARCH, and is, or has been actively involved in Highland’s investments in Fastclick (IPO, sold to ValueClick) and Quigo (acquired by AOL).

About FanSnap

FanSnap is the live event ticket search engine for fans. Our mission is to provide the most comprehensive, accurate, fast and easy-to-use resource for fans to find the tickets they desire to sports, concerts, and theatre events. FanSnap provides free ticket search results for dozens of the leading ticket providers, including Ace Ticket, AllShows.com, Barry’s Tickets, eBay, Gold Coast Tickets, Las Vegas Tickets, RazorGator, StubHub, and TicketNetwork. Our detailed ticket-level search results are made possible by the combination of strategic industry partnerships and systems integration, as well as our FanSnap TicketDatasm systems and patent-pending dynamic FanSnap Mapssm. FanSnap was founded in 2007, is funded by General Catalyst Partners of Cambridge, MA, and Highland Capital Partners of Menlo Park, CA, and is headquartered in Palo Alto, CA.