YPlan launched in London in 2012, offering a beautifully designed app for booking last-minute tickets to concerts, theater, comedy, and other events. The concept was compelling: spontaneous nights out made easy. The company raised $38M from investors including Ashton Kutcher and will.i.am, expanding to New York, San Francisco, and Las Vegas.
Company Data
- Founded: 2012 — Rytis Vitkauskas, Viktoras Jucikas
- Total Funding: $38 million
- Failed: Sold to Time Out (2016) for ~$3M
The problems were classic marketplace challenges: YPlan had to negotiate inventory deals with venues and promoters city by city, creating a heavy operational burden. Customer acquisition costs were high, and repeat usage was low—most people don't need last-minute event tickets weekly. Time Out acquired the company for just $3M, a small fraction of capital raised.
Key Lesson
Last-minute marketplaces face a frequency problem: most people don't need "spontaneous event tickets" often enough to build a habit. Low-frequency use cases require very low CAC to work.