A new pricing paradigm is born (early 2011)
Spinzo was incorporated in February 2011, with a mission to transform how products and services are priced and advertised. The concept, called "Demand-Based Pricing" and later renamed to "#CrowdPricing", was rooted in the idea that the more potential buyers there are for a product, the better the price it can be sold for.
Spinzo built upon this concept, creating the technology necessary to make it happen. There was a lot of interest Spinzo's initiative, because if executed correctly, this could create fertile ground for truly viral promotions. The more people can convince others to join a buying group, the better the price for everyone. People would have an incentive to keep spreading the word.
Spinzo's effort turned some heads in the investment community, and the company raised seed funding to get off the ground.
Early prototype concepts (late 2011)
The goal was to create a web-based interface with a price "thermometer" that drops (by a few cents) every time someone joined an offer. The merchant would of course set the price curve. There would also be options for buyers to choose a lower price, and they would automatically join in once the price hit their choice.
Because this was a novel concept, a lot of care had to be put into the interface and messaging. Focus groups were held to assist with the process.
It took a lot of iterations to figure out the right early fit.
Branding and street events (2012)
The initial test market was set for Toronto, Ontario, Canada. Spinzo would be the front-facing brand that would connect consumers to merchants around the city running #CrowdPricing promotions. In order for this to work, there had to be enough merchants and enough consumers on the "mailing list". Spinzo hit the streets, literally to accomplish both goals.
Street activations were held in order to drum up a list of consumers. It was fun but tiring. Simultanously, Spinzo was undergoing a branding exercise to figure out how it should present itself to the world. From logos to interface, there was a lot to consider.
We finally stumbled on the right logo and brand.
We even invented a superhero to help with our street activations!
A few activations to go, and the team was almost ready for launch.
A launch party to remember (October 2012)
What's a product launch without a party? Spinzo took over SPiN Toronto (a ping-pong bar/club) and had an amazing party to launch the software. Founder and CEO, Emmanuel Elmajian spoke to the crowd.
There was food, drinks, games, and a huge Spinzo cake! The Spinzo team was ready to go!
Early offers were a hit (2013)
Spinzo had early success with #CrowdPricing offers. Restaurants, dessert shops, adventure shops, and custom craft makers were early winners!
Many promotions went viral with the unique pricing incentive. The interface evolved and matured with time.
The shift to white label (2013-2014)
Once the core technology was perfected, Spinzo started speaking with more notable organizations as potential merchants. There was interest in using the #CrowdPricing technology, but on a white-label basis, meaning, those merchants wanted to be the focal point of the branding, and they wanted to share promotions themselves. They did not want to rely on Spinzo's audience. As a result, Spinzo created white label capabilities on the platform, and had early success on that front working with golf courses.
It was becoming obvious that entertainment/recreation services were doing the best on the Spinzo platform. Spinzo had done some deals for the Toronto Zoo, Canada's Wonderland amusement park, and the Toronto Marlies AHL team.
Spinzo therefore embarked on a major push in ticketing.
The move into ticketing (2014 and beyond)
With its sights set on the ticketing space, Spinzo reached out to professional sports teams. Once there was interest, it took the concept to Ticketmaster. They loved it! The two companies went right to work on an integration that would allow Ticketmaster clients to use the Spinzo software for group and promotional ticket sales.
Spinzo was able to achieve real-time inventory access for Ticketmaster clients, and from there, the company had an amazing market potential with professional sports teams.
As the ticket sales machine started shifting to higher gears, Spinzo onboarded Denise Sicheneder to help expand its footprint in professional sports. In the following years, Spinzo partnered with some of the world's most notable sports teams and venues, and became the go-to platform for highly specialized group and promotional sales.
Leadership during COVID
The pandemic hit the ticket sales industry hard, and Spinzo stepped up to help those in need. At a time when many in the industry were laid off, Spinzo created a brand called "Ticket Playbook" to keep the dialogue going through virtual sessions. This was a space for people to continue their professional development. As things started to open up, Ticket Playbook was a central source for job seekers to find open positions. Ticket Playbook would update a central listing every Friday.
With venues starting to re-open, there was significant need for new technologies to assist with the comeback. Spinzo took a leadership postion, going beyond the typical "pod seating" models for social distancing, creating 4 unique approaches for venues to invite fans back.
Ticket sales, reimagined
You may know Spinzo as a leader in promotional ticket sales technology, but the company's efforts go beyond that. With a goal to reimagine ticket sales holistically, the company offers strategic growth consulting and a unique sales approach called the revenue driving service. These help sports teams, venues, and tournaments grow their sales. Spinzo continues to manage Ticket Playbook as well, giving the industry a place to share best practices and ideas.
Profitable and generous
Spinzo's last funding round was in late 2015, to assist with the push into ticketing. Since then, the company has grown to be fully sustainable and profitable. It's no secret that achieving that feat is rare in this industry. Spinzo is lucky to have an amazing set of partners and clients. The company generously donates money to various organizations, with an aim to get more people to experience live events, who otherwise may have not had the means.
Spinzo has many more exciting plans for the coming years. Thank you for sticking us on this journey!