SEATXCHANGE Inc. is a Title III - Regulation Crowdfunding Campaign and is actively accepting investments.
$100.00 minimum investment

SEATXCHANGE Inc.

The Fan's MUST-HAVE Live Event App

Small OPO
Los Angeles, CA
Music
Accepting International Investment
Play video

 LIVE EVENTS REIMAGINED 

Invest in SEATXCHANGE

"We started SEATXCHANGE to make live-events cheaper, more personalized, more social.... more enjoyable for all Fans!  While traditional ticket companies make money charging you transaction fees .... that's not us ... for SEATXCHANGE to succeed we must benefit you enough to unite you and other fans. We win when YOU win!  


Since our Los Angeles beta launch last September, we have grown from 1 city and 5 days of events to 7 cities and 60 days of events on the way becoming one of the fastest growing ticket companies in history based on first year ticket sales.  


Current benefits include: Buy tickets (even after the event starts) and save up to 20% or more. Use the Price Comparison tool to see just how much you can save before you purchase. Tickets are delivered to your phone and are easily transferable. See if your friends are going to an event and where they are sitting so you can sit together. Exchange seats with other fans during an event. Visit the Xtras section for special promotions at nearby restaurants. Navigate to Xevents for a calendar of upcoming Xfan only events and contests.


The more benefits we add, the more exposure we get, the more of you and your friends become Xfans, and the more of you invested in our growth, the better SEATXCHANGE's chance of success resulting in even more benefits for all fans.


That is why we chose crowdfunding! There is strength in numbers. We would rather have 3,000 of you invest $100 each than one person invest $300k.  We are building SEATXCHANGE for you, its success relies on YOUR support."


                                                              - Amir Amini (President and Founder)

Actual app images

The Offering

Convertible Promissory Notes


Note converts to Common Stock when the company raises $500,000.00 in a qualified equity financing

Maturity Date: October 1, 2020

$5,000,000 Valuation Cap

20% Discount Rate

2% Annual Interest Rate**


What is a Convertible Note?

A convertible note offers you the right to receive Common Stock in SXC Live Inc. dba SEATXCHANGE. The number of shares you will receive in the future will be determined at the next equity round in which the Company raises at least $500,000 in qualified equity financing.  The highest conversion price per security is set based on a $5,000,000 Valuation Cap or if less, then you will receive a 20% discount on the price the new investors are purchasing.  You also receive 2% interest per year added to your investment.  When the maturity date is reached, if the note has not converted then you are entitled to receive Shares equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding common shares of the Company as of immediately prior (on a fully diluted basis).


Perks*

Invest in First 3 Days — If you invest ANY AMOUNT, you will receive LIFETIME no transaction fees on SEATXCHANGE app.

$100.00 (U.S.) — If you invest $100.00 (U.S.), you will receive 1 MONTH no transaction fees on SEATXCHANGE app.

$250.00 (U.S.) — If you invest $250.00 (U.S.), you will receive 3 MONTHS no transaction fees on SEATXCHANGE app.

$500.00 (U.S.) — If you invest $500.00 (U.S.), you will receive 6 MONTHS no transaction fees on SEATXCHANGE app.

$1,000.00 (U.S.) — If you invest $1,000.00 (U.S.), you will receive 1 YEAR no transaction fees on SEATXCHANGE app.

$5,000.00 (U.S.) — If you invest $5,000.00 (U.S.), you will receive LIFETIME no transaction fees on SEATXCHANGE app.


*All perks occur after the offering is completed.

*Excludes Stripe Card Processing Fee (3%)

**Annual Interest Rate subject to adjustment 10% bonus for StartEngine shareholders.

For details on the bonus, please see the Offering Summary below.

The Opportunity We See

United States Event Tickets Market surpassed $13 billion in 2018 and is forecasted for strong growth exceeding $19 billion by 2022.*  Driving this growth are a growing live event infrastructure, a rise in disposable income, and the evolution of mobile ticket sales...That's just ticket sales!

Event-goers also spend money on food & beverage, memorabilia, parking and more.  In Los Angeles, event-goers spend 2.5 times more on food, drinks, and transportation than on event tickets.** This means that the more tickets sold, the more fans at the event spending money on everything else.  


Seems simple... right? ... wrong!  While most people would love to see their favorite team, player, musician live, event-goers in the United States go to only 5-7 live-events a year....Why so low? ... Could be many things -- too expensive? friends aren't going? its more convenient at home (have your favorite beverage/food/bathroom)? hate going in a group and pleasing everyone? traffic? waiting in lines? And more... In a study conducted by Live Analytics, 19% of United States event-goers said they will attend less events in the following year.  That's not very promising! ....So what's the problem? 


We believe the problem is the lack of customer data.  To get more fans to attend more events, you have to create a better event experience ... and to create a better event experience, you have to know your customer and their preferences ... Despite massive time and resources devoted to finding a solution, as of today the event industry has little more than emails of their season ticket-holders (who may not even go to the game).  


With the right customer data, the event industry has the opportunity to revolutionize the event experience creating personalized experiences for event-goers while simultaneously accelerating their own bottomline.

* Source: Statista, June 2018 

**Source: www.eventbrite.com/l/millennialsreport-2017/

***Source: https://www.marketingprofs.com/chirp/2017/33222/how-to-maximize-the-benefits-of-live-marketing-events-infographic

US Event Tickets Revenue*

The Opportunity

Customer Experience Matters ***

"SEATXCHANGE is completely innovating the event-goer's experience.  I am behind this revolution."

- Kenny "Babyface" Edmonds (11-time Grammy Award Winner)

What We Do

We are not a ticket company! We are a data company with a realistic vision to bridge the disconnect between the event industry and its customers (see "The Opportunity We See" above).  To succeed requires a MUST-HAVE consumer platform with a backend technology capable of capturing relevant quantifiable customer data.  


SEATXCHANGE is the Fan's MUST-HAVE app for event tickets and to upgrade their live-event experience.  It is designed with features that benefit Fan's in ways they value!  Save Money, More Social, More Options, More Personalized! This app is fully developed!  

Price Compare Any Ticket

Think of it as a more modern "Kayak" for event tickets.  You can price compare any ticket with just one tap.  No more switching between multiple apps.  With our low flat fees, we are probably cheaper anyway.  You can save up to 20% or more on SEATXCHANGE.  Get the best deal without wasting time and while avoiding nasty hidden fees.  Now you have the budget for that extra hot dog at the game!

Real-Time Seat Exchange

As fans, we have been conditioned to sit in the same seat for the entire concert, game, or show. Why? Because we didn’t have any other options, until now!  Pay or get paid to exchange seats with other fans during the event. Sit where you want, when you want, and stay within your budget. Your seat, your choice!

*Patent-Pending for in-venue verification of seating rights.

Actual app images

Sit With Your Friends

See which friends are going to an event, and where they are sitting, so you can get seats nearby or connect during the event (unless privacy mode is enabled).

Mobile Event Entry

Get into events with your phone.  After purchase, SEATXCHANGE delivers tickets directly to your phone.  Snap a picture of a physical ticket to convert it into a mobile ticket.

Cost-Share

Transfer tickets to friends for free or for money.  Don't be late for the show or get stuck with the bill! With Cost-Share, everyone can pay for themselves.

Actual app images

Fan Engagement

SEATXCHANGE gives fans real-world opportunities to connect with like-minded fans and build fan community. We offer viewing parties, meet & greets with fan favorites, fan contests, exclusive rewards, and opportunities to unite with fan favorites to make a positive difference in local communities.  


Because we've aligned our interests with fans, we share a common objective with fan clubs.  We created The Fan Club Union and worked with several popular social media fan clubs with a significant following to help deliver these opportunities to fans.  Below are some of the fan opportunities we offer.

Events

Viewing parties and meet and greets offer fans the opportunity to meet like-minded fans and fan favorites.

Contests

Fun ways to engage with your favorites and other like-minded fans by competing to win cool prizes.

Community

Join forces with your favorites and other like-minded fans to make a difference in your local community.  

Rewards

Upgrade your live-event experience with exclusive rewards and promotions offered by participating partners.   

Meet Our Customers

details here

What's Next

Hotspot -- Offline Chat/Find

Coming soon!


Ever need to message or find your friends at a game or festival but you have no cell service?  With our Hotspot feature, you can message or find your friends anytime, anywhere.  No need for WiFi or cell service -- with SEATXCHANGE you'll have full communication so you'll never have to worry about finding your friends.  


No bars...No problem! 

Anticipate Customer Needs

Coming soon!


Know your audience and how to speak to them intelligently. Create personalized experiences through patent-protected proximity detection and automation technology.  

Dear Waldo...

"You're getting close, the seats are ahead in section 109"

"Your Facebook friend Jeff C. is in the same section!"

"Do you want another Bud Lite?"

"You are parked on Level 3 of the West garage."

Upgrade Your Experience

Value for Event-Goers

Value for Event Industry

What We've Accomplished So Far

To say that it’s been a wild ride for SEATXCHANGE would be putting it mildly. From idea to beta launch in less than a year quickly becoming one of the fastest growing ticketing companies in history. 


Here are some of the milestones we have hit so far:

  • Committed to providing the best user experience, built two SEATXCHANGE apps -- native iOS & native Android (https://medium.com/applantic/mobile-applications-in-2018-part-i-comparison-native-vs-hybrid-be16a4067a9b)
  • Now Available in 7 major cities and 60 days of events (Los Angeles, New York, San Francisco/Bay Area, Houston, Boston, Philadelphia, Washington D.C.).
  • Working with NewAer for use of their patent-protected proximity detection and automation technology. NewAer's CEO, Dave Mathews, sits on SEATXCHANGE's Advisory Board and has been actively involved from the very beginning.  (Read more at www.newaer.com)
  • Patent (pending) for in-venue verification of seating rights effectively creating a barcode for inside venues.
  • Partnered with Multi-Grammy Award Winning Artists Babyface and BoyzIIMen to launch a campaign benefitting The Teen Project, an organization that is battling teen homelessness among women in the United States (www.theteenproject.com)

Join The Xfan Revolution! 

We didn't get this far without help! The support has been tremendous ... from friends & family who invested their hard-earned money when all we had was an idea ... to third-party vendors (development, marketing, celebrity partners, sponsors, attorneys, and more) who shared our vision and took significant skin in the game ... and of course our Xfans who invested in our crowdfunding campaign last September when we had no users, no ratings, no sales, nothing ... all together so far we have raised more than $1m in equity from our supporters! Thank you!


NOW WE NEED YOUR SUPPORT! Here's why.... Traditional ticket companies make money charging YOU transaction fees ....the higher ticket prices go, the more money they make since they charge YOU a percentage fee ... that's not us .... SEATXCHANGE wins when YOU win! for SEATXCHANGE to succeed we must unite YOU and other fans on one platform ... to unite you, SEATXCHANGE must benefit YOU in ways YOU value -- such as save you money or personalize your event experience ... the more features, the more exposure, the more of YOU and your friends join the Xfan Revolution, and the more of YOU invested in our growth, the better SEATXCHANGE's chance of success resulting in even more benefits for all fans ... That is why SEATXCHANGE chose crowdfunding! There is strength in numbers.  We would rather have 3,000 people invest $100 each than one person invest $300k.  We are building SEATXCHANGE for you, its success relies on YOUR support.  

Why We Are Raising Money

This current crowdfunding round is intended to continue our design and development of the Hotspot feature, upgrade technology back-end to support further growth, and more xevents and xtras.  


With success in these areas, we will look to a larger crowdfunding round to further fuel the Xfan Revolution!  

Offering Summary

Convertible Note l Minimum $100 (US)

Note converts to Common Stock when the company raises $500,000 in a qualified equity financing

Maturity Date: October 1, 2020

$5,000,000 Valuation Cap

20% Discount Rate

2% Annual Interest Rate

*Annual Interest Rate subject to adjustment 10% bonus for StartEngine shareholders. See 10% Bonus below

Maximum ($107,000) of Convertible Promissory Notes

Minimum ($10,000) of Convertible Promissory Notes


What is a Convertible Note?

A convertible note offers you the right to receive common stock in SXC Live Inc. dba SEATXCHANGE. The number of shares you will receive in the future will be determined at the next equity round in which the Company raises at least $500,000 in qualified equity financing. The highest conversion price per security is set based on a $5,000,000 Valuation Cap or if less, then you will receive a 20% discount on the price the new investors are purchasing.  You also receive 2% interest per year added to your investment.  When the maturity date is reached, if the note has not converted then you are entitled to receive Shares equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding common shares of the Company as of immediately prior (on a fully diluted basis).


Company
SXC Live Inc. dba SEATXCHANGE
 

Corporate Address
1270 Granville Ave., Los Angeles, CA 90025
 

Description of Business
A low flat-fee, secure, easy-to-use mobile marketplace where fans can connect, share, buy, and exchange tickets in real-time. 
 

Type of Security Offered
Convertible Promissory Note
 
Minimum Investment Amount (per investor) 
$100.00 (US)










Perks*

First 3 Days — If you invest ANY AMOUNT, you will receive LIFETIME no transaction fees on SEATXCHANGE app.

$100.00 (U.S.) — If you invest $100.00 (U.S.), you will receive 1 MONTH no transaction fees on SEATXCHANGE app.

$250.00 (U.S.) — If you invest $250.00 (U.S.), you will receive 3 MONTHS no transaction fees on SEATXCHANGE app.

$500.00 (U.S.) — If you invest $500.00 (U.S.), you will receive 6 MONTHS no transaction fees on SEATXCHANGE app.

$1,000.00 (U.S.) — If you invest $1,000.00 (U.S.), you will receive 1 YEAR no transaction fees on SEATXCHANGE app.

$5,000.00 (U.S.) — If you invest $5,000.00 (U.S.), you will receive LIFETIME no transaction fees on SEATXCHANGE app.


*All perks occur after the offering is completed.

*Excludes Stripe Card Processing Fee (3%)


The 10% Bonus for StartEngine Shareholders

Seatxchange will offer a 10% bonus on the annual interest rate for all investments that are committed by StartEngine Crowdfunding Inc. shareholders (with ≥ $1,000 invested in the StartEngine Reg A+ campaign) within 24 hours of this offering going live.

StartEngine shareholders who have invested $1,000+ in the StartEngine Reg A+ campaign will receive a 10% increase in the annual interest rate on Convertible Promissory Notes in this Offering if they invest within a 24-hour window of their campaign launch date.  For example, if invest in the first 24 hours, your annual interest rate will be 2.2% instead of 2%.   

This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$186,930.75 USD
$54,413.23 USD
Cash And Cash Equivalents
$178,930.75 USD
$46,413.23 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$4,598.50 USD
$25,000.00 USD
Long Term Debt
$55,800.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$426,374.98 USD
-$154,847.27 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

DETAILED HISTORICAL PERFORMANCE

1 hour ago

Hi everyone,

Thank you for your interest in SEATXCHANGE.  In response to some questions posed below, we felt it was necessary to provide a detailed account of our historical performance for everyone's consideration.  

To say it’s been a wild ride would be a massive understatement.  Our journey is defined by four very distinct phases that when put together explain how we got here, why this campaign, and the massive opportunity if we can raise enough funding. 

Phase 1 (Prelaunch)

This phase covers Company formation (September 13, 2016) until Los Angeles public beta launch (September 2, 2017). Noteworthy Highlights: (i) Raised close to $1m in funding exceeding our goals; (ii) successfully recruited world-class Advisory Board each with specific relevant expertise; (iii) focused on providing the best user experience, designed and developed two native apps (iOS and Android); (iv) secured strategic relationship with NewAer for use of its patent-protected proximity detection and automation technology; and (v) launched website for pre-registration.  

A major decision we had to make early on was selecting the right developers to build SEATXCHANGE. The selection process was guided by four factors: (i) faced with a saturated ticket market plagued by fraud, we wanted to build a compelling user experience (not an MVP) to attract users; (ii) we wanted to build native iOS and native Android to create the best user experience and optimal functionality using the NewAer proximity technology; (iii) iOS and Android apps had to launch at the same time to allow for in-venue seat exchanges; and (iv) maximum cash budget of $200k meaning the developers would need to take significant equity in lieu of cash for the remainder.  We conducted significant due diligence connecting with some of the top-rated US agencies all of whom loved the idea and were willing to take significant equity, but with a total price of $600k+, they simply needed more cash than we could pay. That left us with two options. Ultimately, we chose Appster after being fiercely pursued and persuaded by their CEO and team that they were the right development partners.  That turned out to be the huge mistake as explained below. 

Phase 2 (Traction!!)

SEATXCHANGE beta launched (iOS and Android) on September 2, 2017, listing only events in Los Angeles occurring over the next 5 days. Our beta launch coincided with the Dodgers run to the World Series.  Through a combination of large inventory at cheaper prices and an effective marketing strategy, we immediately gained historic traction for the secondary ticket market.  For perspective, we grew so fast that one day, without notice and outside business hours, our ticket inventory provider which supplies inventory to StubHub and more than a dozen other major marketplaces, all of a sudden pulled our ticket inventory and demanded a six-figure reserve deposit to restore inventory.  They apologized for not giving us notice during business hours so we could avoid disruption, advising they had never seen a company grow so fast and the requested deposit was consistent with the deposits required by their other larger marketplace customers. 

Despite being a new startup and only listing Los Angeles events occurring in the next five days, in the first 60 days (September 2, 2017 through October 31, 2017) we: (i) exceeded 6,000+ fully registered users (growing 50%+ week over week) with a customer acquisition cost under $1.50; and (ii) processed more than $200k in valid ticket transactions.  

Even more remarkable is that but for the significant unexpected technology shortcomings we encountered (as referenced in the campaign disclosures), we would have processed at least 200% more ticket transactions and sales. The traction immediately exposed multiple material technology and security deficiencies/mistakes in the software code.  But for the tireless 24/7 dedication of our team during this time, each of these mistakes, on their own, could and should have put us immediately out of business. 

Phase 3: (Fix and Test the Technology)

In early November 2017, despite the impressive traction in Phase 2, given the massive potential exposure created by the technology issues, we had no choice but to slam on the breaks in order to resolve the mistakes/errors in the software code to ensure the platform performed as we intended. We shifted from a growth and user acquisition strategy to product development. We searched for and found developers capable of correcting Appster’s mistakes.  All marketing budgets and other applicable budgeted items were slashed to negligible numbers and funds were reallocated to fixing the technology.  This process took several months (until mid-February 2018). 

By mid-February 2018, the major immediate technology issues we encountered were resolved and we were ready to “relaunch” with a functioning app (which we believed we had back in September 2017).  We also added our first revenue stream – low flat transaction fees into the new and improved app.  Unfortunately, however, the significant delay, additional costs, and losses caused by the technology issues drained our resources leaving the Company crippled and unable to execute any legitimate business strategy.  Despite the limited resources, we wanted to see if we could recreate traction to warrant raising additional funding to move forward. 

Starting mid-February through mid-April we resumed a limited marketing campaign to drive growth.  Given the scaled-back budget, we didn’t expect to hit comparable overall numbers, so we were focused on customer acquisition costs and week over week growth.  Sure enough, we were able to produce nearly identical numbers as we had in September 2017. 

Having re-reproduced the traction metrics, all we needed was to add fuel to grow.  However, without the resources necessary to execute a sustainable user acquisition strategy, we spent the next few months identifying our technology advantages (features, Newaer patents) and revenue streams derived from those advantages (many of these are laid out in the “What’s Next” section of this Campaign).  We then explored those opportunities with several industry leaders (e.g. Ticketmaster, AEG and others) resulting in significant advanced discussions with senior executives of multiple industry leaders.

Phase 4: (Raise Funding to Move Forward)

Having fixed the technology and proven we can re-produce traction, together with the significant opportunities created by our proprietary technology and positive feedback from industry leaders, we made a decision to seek additional funding and keep the dream alive. As stated in our Campaign disclosures, the Company currently does not have the funds to move forward.  We are relying on the success of this Campaign to continue operations.  If this Campaign is successful, then the upside ahead is massive.  Adding to the difficulty is the negligible marketing budget we have to effectively market this campaign.  Thus far, the Company has spent less than $600 marketing this Campaign. We are relying on people like you that read this page to get behind the vision and support us moving forward by spreading the word. There is strength in numbers!

** Having read the foregoing, here is a link to a chart from Mixpanel (data analytics) that illustrates our journey.  https://www.dropbox.com/s/d461u9w12ah5dde/Screenshot%202018-12-16%2019.21.49.png?dl=0


Amir, Founder & President

Notice of Funds Disbursement

19 days ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, SEATXCHANGE Inc. has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in SEATXCHANGE Inc. be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

We Blew Past Our Minimum Goal!

about 2 months ago

Hi everyone!

Amir here, Founder and President of SEATXCHANGE.  I want to thank you for your interest in and quick support of our campaign.  We surpassed our minimum goal in the first 3 days with more than 50 investors already pledging their support and we look forward to continuing the climb! We are excited to continue reinventing the event experience for fans and are happy to welcome you to the XFan Revolution! Feel free share our campaign with anyone you think may have interest; we also have shorter social media campaign videos posted on our Facebook and Instagram pages (@seatXchange) that you can share.  Thank you! 

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