|Angel, 8/05 ||$2M|
|Angel, 1/07 ||$2M|
YooNew operates a futures exchange market for the buying and selling of purchased tickets. YooNew’s approach of applying elements of securities markets to the online ticket reselling business competes with auction models adopted by the likes of eBay’s StubHub, TicketMaster’s TicketsNow, and RazorGator.
Fox Business NewsAdded: 3/3/08
YooNew operates a futures exchange market for buyers and sellers of purchased tickets. YooNew users, after registering and filling their account with the necessary funds, can purchase a contract at a price determined by the market that allows them to take hold of the tickets they bid on if their team should make the event in question. If a YooNew user’s team fails to make the event, they still pay the price on the contract but do not get tickets to the event. In addition, if the contract goes up in value, the contract owner can resell the contract for a profit.