Why Carmelo Anthony Is Funding SeatGeek

Ticket search engine SeatGeek announced today that is has raised $35 million in funding from a list of investors that reads like an ESPYs guest list: Carmelo Anthony, Eli and Peyton Manning, Nas, Mike Dunleavy Jr., Shane Battier, and Boston Celtics Chief Cxecutive Wyc Grousbeck. The lead investor, Accel Partners, while not a household name, is a long-established Silicon Valley venture fund that claims Facebook, Etsy, Dropbox, and, most tellingly, Kayak among its past investments.

SeatGeek does for sports and concert tickets what Kayak does for flights, hotels, and rental cars. It collects offerings from about 120 ticket brokers, allowing buyers to browse and comparison shop, then takes a commission from the seller, usually 8 perdent to 10 percent, on sales that come through its site. SeatGeek says it is on pace to drive $13 million in ticket sales this month and $160 million this year. The company specializes in creating analytic tools to help buyers master the market. It identifies bargains, suggests the best time to buy, and shows seat views. (It also provides fun and useful secondary market data to journalists.)