Alex Rodriguez hopes his new business will help solve some of the major problems that have plagued the ticketing industry in recent years.
In order to give fans a new way to attend events and enjoy certain experiences while there, Rodriguez and his business partner Marc Lore have raised $20 million in new funding for their startup called Jump. Fortune’s Kim Bhasin claims that A-Rod and Lore first looked into the industry around 2020, when they attempted to purchase the New York Mets.
As Lore and Alex looked into buying a sports team, Lore sent an email to Fortune complaining that many teams were missing the mark when it came to the fan experience. They quickly learned that there were a wealth of unrealized possibilities for revamping the entire fan experience.
Jump’s dynamic ticketing service will allow paying customers to upgrade their seating location during a show. Jump’s CEO and co-founder Jordy Leiser has stated that individualization of the event experience is a primary focus.
Ticketmaster and its parent company, Live Nation Entertainment, have been hit with several lawsuits recently, the most high-profile of which is related to the Taylor Swift debacle from last year.
Since his baseball career was over, Rodriguez has tried his hand at many different businesses. With Lore’s help, he and a business partner bought the Minnesota Timberwolves last season, and they’ll soon have majority ownership of the team.