Case Study for Featured Customer
- Unblocked revenue growth with customer built internal portal
- Designed and implemented a server side infrastructure
- Develop Analytics and visualization tools
- 90MM in revenue with a 4.7 star revue in Facebook
Lyte makes it easy for fans to return and receive tickets to sold out events, and in the process, enables them to go to more live events. Lyte allows fans to return their event tickets -- no questions asked -- to the official point of purchase. Lyte also provides a safe, official reservation booking system, offering fans a fair price for in-demand tickets.
In April of 2017, Lyte and Startuplandia began their relationship by tackling a major challenge that most businesses wish they had. Lyte received too much platform volume and they didn't have the right kind of internal tools required to make decisions about how to use the platform. They needed a full stack software solution that would enable them to keep developing server side infrastructure while building out complex front end visualization tools. These tools were necessary to help them manage the states of their specific ‘ticket exchanges'. Additionally, they needed tools that would allow for human and machine based decision making around the buy/sell states of the exchanges and the prices of the buy/sell marks. We also determined that they needed interface controls that allowed for more advanced analytics and marketing.
The proposed strategy to help unblock Lyte's revenue growth was clear. Build a complete, high quality admin accessible internal tools portal. From this portal, it was decided that we could develop analytics and display capabilities alongside complex decision making interface screens, all of which were unique to Lyte's business, that it was decided that a custom internal solution made sense. Lyte believed that in the long run the value of having a well instrumented business pipeline outweighed the fact that the initial plans involved at least a year of work.
StartupLandia built a react based front end suite that would be powered by a python django webserver. Using a git flow relationship, StartupLandia acted as external expert support to Lytes' team. Our first task was to build an executive financial summary dashboard. The dashboard required smart integration of a well designed set of interfaces backed by complex financial calculations and tabulations. After the initial financial summary interfaces were built we replicated the general interface pattern for all other internal tools and decision making software was developed.
Lyte's next project was a complex visualization tool to understand and execute buy/sell prices on tickets for individual exchanges. This wasn't going to be a garden variety interface implementation. What we built became core IP for Lyte. Lyte's individual decision making needs were unique, there were no libraries that we could use that would allow for a successful interface development. After discussions with the product stakeholders, we knew that to build the right visualization, we concluded that we would have to build a custom solution. In this case, we ultimately built a small svg rendering engine. This svg rendering engine took graphed metrics in a series along with many other economic indicators. Once the tool was developed, a parallel algorithmic solution was put into development, so that the visualization interfaces would then be used to evaluate/spot check machine decisions.
In October of 2019 Lyte received a 15M Series A from top tier venture investors. In 2017, Lyte saved fans $1.5M and greater than $10M since inception by selling tickets that haven't been price gouged. On facebook, Lyte has a 4.7 star average out of 500 reviews, in contrast Ticketmaster has 1.9 stars out of approx 100 reviews. In 2019 Lyte booked approximately $90M in annual revenue. During 2018 there were at least 300 clubs spread throughout the United States using Lyte as a ticketing management platform.