A cash-strapped county council about to close libraries and community centres across Preston and South Ribble – has pledged £5,000 to help fund a ticketing app.Advertisement
Preston-based entrepreneur Luke Massie has raised more than £400,000 in private equity funding since launching Vibe in 2013.
Now Lancashire County Council has announced it will be taking a £5,000 stake in his expansions plans – at the same time as closing the likes of Fulwood library and Penwortham’s young people’s centre.
£5,000 also happens to be the same amount of funding as is on offer to communities wanting to take on the running of their own library.
Leader of the county council county councillor Jennifer Mein said: “Luke is a young man with a great business idea that caught our attention and we’re really pleased to back Vibe Tickets using Crowdcube.
“Luke is a great example of someone who is out there, with his sleeves rolled up, making his business work.
“His national exposure through Vibe is a wonderful testament to his passion and belief. I’m looking forward to supporting and working with other ambitious companies in Lancashire.
“The county council takes a really forward-thinking approach to financial backing, for example we were the first county council to invest through Funding Circle. It’s important that we keep up-to-date with the changing funding options for companies, so that we can provide strong support for businesses in the county.”
Vibe Tickets is an app that allows music fans to exchange tickets at real prices.
Watch below how Vibe Tickets works
Luke Massie, 23, said on receiving the funding: “This funding will help us to further develop our product and its offering. We’ll be rolling out new features and benefits to our existing user base. We’ll also be developing and executing our national marketing strategy, to see our community grow exponentially, as we have a great foundation to build on.
“We need to grow our team, so we’re aiming to recruit new high-skilled, technical staff who can extensively develop our applications.
“This time we wanted to open up our funding to our fans and followers, so they can play an active role in shaping and creating the future of Vibe Tickets. The fans really are at the centre of our product, so it’s really exciting for us that we can give them a voice.”
The county council announced on Friday night which of more than 100 community buildings across Lancashire would be closed and sold off.
What do you think about the funding for Vibe? Let us know your views in the comments below