With more than a million users, Russian Radario stakes a claim in ticket-selling market

radario-logoIt has become significantly easier to sell tickets to events, large or small, but it has not necessarily become equally simple across the globe. As early as 2008, Sergey Suchkov, co-founder of Russian ticket-selling service Radario, says that he wanted to make it simple for ordinary people to organize events and sell tickets and, in 2011, he decided that the time was right for such a service.

Radario, which launched in 2012, claims 1 million users for a service that enables ticket-sellers to sell tickets to events and track their success. Radario says that they are aiming to become a leader in the Russian market before expanding operations in the rest of Europe this year. To date, they are operating in a host of major Russian cities, Tallinn (Estonia), and Helsinki (Finland).

Within the Russian market, Kassir.ru and Ponominalu.ru are the two primary competitors. Kassir currently boasts the largest geographic reach, operating in 16 cities across Russia, Belarus, Estonia, Latvia, and Lithuania (they operate a network of sister sites, one for each country). In contrast, Ponominalu currently focuses solely on Moscow and St. Petersburg. Eventbrite has established itself as a global leader in this market since it launched in 2008, but they have not expanded into Russia or any eastern-European country.

Romil Chumakov from Radario tells me that they have $1.2 million from undisclosed investors. The company was initially funded by $250K from private investors and Suchkov, but they followed it up with a funding round last June. Their revenue model is based on taking a commission (usually 3-5%) from each transaction that they help to facilitate.

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