luxury is an event management and ticketing platform for all users to host events big or small, whether you’re an event organizer, promoter, or just want to charge your friends for all the expensive drinks at your birthday party.
After being in beta since October 2020, POSH announced its public release on Thursday.
At the same time as the release, the company also announced a $5 million seed round of financing, co-led by Companyon Ventures and EPIC Ventures, with participation from Day One Ventures, Pareto Holdings, and DoNotPay founder Joshua Browder.
“We are pleased to invest in (POSH Co-founder price and Eli Taylor-Lemaire) As they continue to redefine the live event management experience for organizers and attendees,” said Tom Lazay, co-founder and general partner at Companyon Ventures, in a statement.
The funding will be used to expand its team, develop new features and update its mobile app.
Currently, POSH has a iOS application Applies to event curators only. The app will be available on Android devices next month. In June, POSH will add updates focusing on features for the attendee/event attendee side of the platform, including the explore tab and social elements.
POSH wants to be “Shopify for everything,” Price (22) and Taylor-Lemire (22) said in an interview with TechCrunch. The platform is designed to provide organizers with an all-in-one, self-service platform to create white-labeled event pages, send unlimited text messages and emails to event attendees, and access custom payment plans, community management features, attendees, etc. analyze demographics, track link data, and more.
Like Shopify, POSH integrates with third-party apps, including Mailchimp, Stripe, and Twilio. Additionally, the platform has an API so organizers can list POSH events on third-party marketplaces like EDM Train. There is also a webhook feature that provides users with real-time updates on transactions.
One difference from other event platforms is that POSH users can customize their own various “marketplaces” to suit their branding. This can be valuable for small independent event organizers who want to expand their business.
“If you’re a bigger brand and you use Dice or Ticketmaster or Eventbrite, the ticketing platform’s brand is all over your event page. Your brand is basically not visible at all,” Taylor-Lemire said. “When we go and ask attendees who go out using platforms like Dice or Ticketmaster, ‘Hey, do you know the event production company that’s organizing this event?’ They’re usually like, ‘No, I just bought tickets on Dice.'” “
Taylor-Lemire added that POSH has more “subtle branding” so attendees can focus on the organizers themselves.
The platform provides users with various tools to customize their event pages. This includes personalizing the look of the background with accent colors, as well as adding flyers, venue photos, artist lineups, website code embeds, custom in-flight seating maps, and more.
Event organizers get a profile where they can promote all their events in one place. There is a section at the top that lists the total number of events and how many people attended them.
POSH also offers options for organizers to approve attendees before inviting them. Additionally, they can ask attendees to RSVP using their social media information — whether it’s a LinkedIn, Instagram, or Twitter account. For extra security, they have the option to lock the event with a passcode.
Another notable feature is POSH’s proprietary “Rebate” facility. The attendee-to-member conversion tool feature allows guests to invite their friends to events and earn commissions on ticket sales. Affiliates receive a link, which they then share. They can link a debit card for instant cash back. The organizer sets the reward percentage. For example, members can earn 20% of the value of their ticket order.
The feature is a surefire way to incentivize more ticket sales, however, POSH also wants to show attendees that they too can be event organizers.
“If you’re a micro-influencer…you get soft introductions about bringing people to events. Then you can use our tool to really brand your event. That’s what this tool is about,” Taylor- Lemire said.
“Attendees don’t usually just go from going to a series of events to throwing a big party. There are intermediate steps like you become a promoter, or you work as a photo/video person for a company or DJ – you can do that through your social Influence pays off,” he added.
Currently, attendees will only see the rebate offer after receiving the event link. Eventually, POSH plans to include the offer in an explore tab for all to see.
POSH allows attendees to chat and interact through the platform before and after the event. Party RSVP site Partiful has a similar feature that lets users post comments directly on the event page.
However, Price explained that POSH is also considering adding a monetization feature where attendees can anonymously “like” names on the guest list. Attendees have to pay to see who likes them. The concept is interesting, but we’re not sure many people are willing to pay for this kind of functionality.
Notably, POSH claims it has over 500,000 users and $30 million in processed tickets. While the company declined to disclose valuations or revenue run rates, it said it recently became profitable.
“We are so excited to publish and tell our story as young African-American founders. When we went into space, we had very few role models…It was an uphill battle to get to where we are today,” Taylor-Lemire said. “So we want to inspire any other young founders like us who are passionate about building but don’t really know how to approach venture or technology, that it’s possible…you can make things happen.”
POSH launched in 2019 as an events company after Price and Taylor-Lemire became frustrated as freelancers in New York nightclubs. Price is the DJ and Taylor-Lemire is in charge of photography and video content.
“People were delaying paying us, giving us false promises and all that stuff,” Price said. “The bottom line is that a lot of these brands are run by older people who don’t really understand what college students want, whether it’s vibes and so on.
Price and Taylor-Lemire originally created POSH to host events for college students and young professionals.
“You can apply through your LinkedIn or Twitter,[tell us]what value you bring to the community, we accept it, and you’ll come to our weekly event. It’s still a party. It’s not networking anyway experience. But it’s a little more elegant, which is where the name POSH comes from,” Price added.
The company quickly grew into the management and ticketing platform it is today.
Although Price and Taylor-Lemire are only 22 years old each, the two NYU dropouts have experience in both tech and entertainment.
Price got his start in the entertainment industry early, to say the least. When he was five, his father, a local DJ, taught him how to DJ with vinyl records.
Admittedly, at first we had a hard time believing that a kid would know how to mix and dial.In an interview with TechCrunch, Price showed us a youtube video That’s what he does.
As a high school student, he launched his first startup, ChoreBug, a TaskRabbit-like service in which users can hire local high school students in the area to complete daily tasks.
Meanwhile, Taylor-Lemire was obsessed with YouTube from a young age and eventually got into music video production, shooting for local rappers in his area.
In high school, he co-founded a startup called Stumped, a school community-building app.
He later started a freelance photography agency, produced content for fashion magazines, and worked with Sony and ROC contract artists. Taylor-Lemire also created Music Video Expressa service where people can book videographers in the area.
Updated 4/27/23 9:18AM ET to remove the phrase “Users can host events with up to 10,000 guests.” There is no maximum number of people and event organizers can accommodate as many attendees as they want.