Gen Z has been called the ‘experience generation’, with its consumers increasingly spending time and money on ticketed live experiences – both planned in advance and as a spontaneous purchase.
Empowering users to discover and book tickets through the same websites they already use creates a more convenient, personalised experience. The dominant ticket sellers of the future will be the online brands that consumers have already made part of their lifestyle across social media and apps, travel and e-commerce.
And that’s where Coras comes in.
Coras enables customers to buy tickets they want through sites they already use
Coras connects to multiple ticketing software systems of suppliers like theatres, attractions and sports teams, and aggregates the inventory of their clients, which is then available via a single connection. Distribution partners across travel, e-commerce and social media can plug into that connection so that they can offer tickets as a new product category to their customers.
According to Coras CEO, Mark McLaughlin: “As consumers spend more money on experiences and events over things, the biggest online brands will want to have that transactional relationship with their customers,” he says. “There wasn’t a single source of the world’s inventory through one single API connection, so that’s what we wanted to build.
“Subsequently, Coras has a single API that connects to millions of tickets in 40 countries and 180 cities. A distribution partner can choose to integrate with the Coras API to enable customers to purchase within their site – or there is also a white label solution.
“We believe that wherever there is a potential customer online, the tickets they want should be available to them – and Coras opens up ticket purchase opportunities through multiple channels, in a way that responds to a customer’s lifestyle.”
Building a scalable business
Since its inception three years ago, McLaughlin has seen the fledgling business thrive and succeed within an international market, and attributes this to both the customer and development teams responsible for delivering the product.
“The key driver for research, development and innovation is a collaborative process between our clients and our vision for how we want the product to develop,” he says. “This drives the roadmap.
“We have a technology-focused product, which we hope is appreciated by the partners we integrate with and those who integrate with us. Our first three live partners are on three different continents and this is something we hope will demonstrate how scalable the product is.”
Support to grow
The CEO comments that financial help and advisory support have also played a big role in establishing and growing the business.
“We are a HPSU (High Potential Start-Up) company and Enterprise Ireland (the trade and innovation agency) invested in our seed round back in 2016,” he says. “This was very welcome and we are now tapping into Enterprise Ireland‘s network in the US and Asia, which is very helpful. It can be very beneficial to have a reputable partner like Enterprise Ireland vouch for you to get deals done. “
McLaughlin says the sector is currently focused heavily on B2C brands that are using ‘tens of millions of dollars’ to drive sales but Coras believes the focus will shift to B2B technology, which is where it operates.
“We are pure B2B and don’t have any secondary business products,” he says. “Our focus is on having the easiest API to integrate with, and the best real-time ticketing inventory available.”
He believes that there are great opportunities for future development.
“It’s a $150 billion product category, and our view is that the biggest online brands in the world will become increasingly active in this space, so we’ve hardly scratched the surface of what potential there is,” he says. “We hope to take advantage of these opportunities by focusing on the product we build.”