Startup Watch: DICE
Mobile ticketing app DICE has become one of Millennial London’s most loved apps, now downloaded onto an impressive 40% of their phones. It’s the startup that is making going out so easy it’s a no-brainer whilst putting an end to touts at the same time. The London based startup is now live nationwide in the UK, selling 35% of tickets outside of London. DICE have just closed a $6 million Series A funding round, bringing the total raised to date to $10 million.
This latest round of investment will be going towards more product development work. Machine learning algorithms will be a big part of the future as they expand and grow into new territories. The music and data science team are focused on helping users figure out what their next big night out should be as well as helping them to discover new artists. The weather, venue, time of year, what else is on that night, are all factors which can be tracked and have a direct impact on the success of an event.
This blend of human and algorithmic recommendations hopes to crack the new live music discovery problem at scale. They’re are aiming to build a system that accounts for fluctuations in taste within the same person – just because you went to see one grime artist, you don’t necessarily want to see only grime artists. But DICE is distancing itself from competitors doing similar things by being highly selective in what it sells.
DICE is constantly identifying new artists, building those new artists up and getting them into larger venues. Whether it’s an upcoming artist or a very well-known and mainstream artist, rest assured it’s been intentionally curated and hand picked. Only the best gigs, clubs and festivals are on there and every event on the app is personally rated. The team must feel confident that their primary audience of up to 33 year olds will enjoy the event – whether that means AJ Tracey or Mumford and Sons – there is room for variation.
Looking to the future, DICE are considering more than just music. The platform could address issues in different arenas – theatre or sports for example. Since DICE tickets are tied to the mobile device they are bought on, they are immune to bots that crawl ticketing websites and hoover up stock to sell on at exploitative prices. There are no booking fees and if fans miss out on tickets they’ll have a second chance through the waiting list feature.
DICE has provided the ticketing industry with a much needed shake-up. It’s succeeded in building an easy, fair and transparent ticketing platform that puts fans and artists at the centre and we can’t wait to see where they’ll go from here.