It's lights out for LiveStub

Posted by Rob Lewis

Toronto online ticket upstart LiveStub has been forced to go offline. In an interview with TicketNews, CEO Michael Hershfield cited three reasons for LiveStub's closing: the financial collapse of LiveStub's key investor, the current economic climate, and major shifts in the ticketing industry.

LiveStub's angel investor, Morten Lund (most famously a Skype investor), was recently declared bankrupt after losing money in a newspaper investment. As a result, Lund's investment funds have taken a back seat as he restructures his business and his investment strategy. Lund's financial collapse occurred in tandem with the decline of the general economy, and that decline also directly affected LiveStub.

That's a trifecta of bad news for LiveStub. A deep pocketed Angel investor running dry thanks to a newspaper investment gone wrong, today's crappy macroeconomic climate and a major shift in the entertainment industry with Ticketmaster merging with Live Nation and digital tickets becoming more commonplace.

Best of luck to Hershfield with his next venture!

Company:
LiveStub
Website:
http://www.livestub.com/
Location:
Toronto, Ontario, Canada

LiveStub is a free peer-to-peer resale marketplace that provides fans with graphs and charts displaying ticket pricing trends and supply for all events. more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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