Yoonew
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| Web Start-up | |
| Industry | Ticketing |
| Founded | 2004 |
| Headquarters | New York, New York, USA |
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Key people
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Gerry Wilson, co-founder, CEO Hagos Mehreteab, co-founder, President |
| Products |
Sports Ticket Derivatives Sports Tickets |
| Website | www.yoonew.com |
yoonew, Inc. was a start-up based in New York City, USA, that ran an online specializing in championship sports tickets and ticket derivatives. Since being founded in 2004, Yoonew provided tickets and ticket derivatives for large sporting events such as the Super Bowl, the World Series, the Stanley Cup, the UEFA European Football Championship, the Final Four and the US Open.
yoonew Inc. was founded in September 2004 by MIT Sloan students Gerry Wilson and Hagos Mehreteab in hopes of creating a method by which die-hard fans without thousands of dollars to spare could get their hands on cheap tickets to major sporting events. The idea was born when Wilson was unable to obtain affordable tickets to the 2003 World Series. After the idea fared well in a couple of business-plan competitions, Wilson and Mehreteab, a longtime friend, launched the company.
The company experienced difficulties early as co-founder Wilson was forced to liquidate his 401(k) in order to provide customers with 2005 NCAA Final Four college basketball tickets in 2005. After struggling initially, Yoonew was able to raise $2 million in investments and began to grow. In October 2007, yoonew changed its interface to provide real-time price plotting similar to that seen on Yahoo! and Google. A point of contention raised regarding the new interface was that it was too heavily geared towards traders, which reduces usability for the average user.
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Wikipedia