Oh man. Another of Tony Hsieh’s Vegas Tech Fund investments has bitten the dust.
Ticket Cake, an online ticketing startup, has just posted a farewell video to users on YouTube having apparently not been able to make its business model work. According to DTLV.com, the company had $1.5m in ticket revenue and over 300 event organizers.
Ticket Cake is just the latest Vegas Tech Fund companies to flame out or move out. Ecomom collapsed following the suicide of founder Jody Sherman and my own company — NSFWCORP — sold to Pando after we were unable to raise more money. Robot manufacturer, Romotive, left Vegas after raising a Series A from Sequoia which reportedly demanded they relocate to the Bay Area.
I should probably disclose at this point that Pando is also a Vegas Tech Fund investment, although we’ve never been based in Vegas, nor do we seem to be featured on the fund’s portfolio page. We’re doing fine, by the way.
Here’s Ticket Cake’s goodbye video..