A FRUSTRATED gig-goer who set up a Twitter account, encouraging fans to exchange tickets for sold-out shows at face value, has created one of the UK's fastest-growing businesses, enabling 45,000 "spare" tickets to be sold.
Richard Davies, a London web designer, created the @Twickets exchange after seeing a fan offering to give away last-minute tickets for a show for free on Twitter, rather than let them go to waste.
He believed that many other people who had tickets for music, theatre or sports events they could not attend would rather sell them at cost price or less to real fans, rather than at a profit through secondary ticket websites.
The concept spread by word of mouth. Last week, a Twickets iPhone app went on sale and topped the iTunes new app chart, selling 30,000 downloads.
The @Twickets account has facilitated the exchange of 45,000 spare tickets, with a conversion rate of 50pc (and rising) of tickets posted being bought.
Although Mr Davies runs a digital company, Future Platforms, he is not making any profit from Twickets.
He said: "We might monetise Twickets in the future, but the mission is simply to ensure that empty seats are filled." (© Independent News Service)