Marc Lore launched Jump, a real-time bidding app for premium stadium seats that go empty during games. He's previously sold Diapers.com to Amazon for $545 million and Jet.com to Walmart for $3.3 billion. Jump targets the $15 billion sports ticketing market by letting fans bid on vacant seats as they open up.
This guy is inventing a way to steal the best seats at sporting events. Here's how. Marc Lore has an insanely successful career to date, selling diapers.com to Amazon for $545 million. He sold Jet.com to Walmart for $3.3 billion, and then he went and bought Blue Apron for $103 million. So he's got a knack for building and identifying great ideas. And when he looks at sports, he sees a huge opportunity. So picture this. You're sitting at your favorite ballpark and it is absolutely packed. Fans everywhere, whoops and hollers from the crowd, and it is a vibe. But you notice What if some fans are getting tired, the game is dragging on, and people start leaving, and those premium-priced seats are now empty? Well, what a waste, right? Well, Mark's solution is a platform called Jump. When people leave their seats, other fans at the game can bid to take the upgrade. The more demand, the higher the price. Sports ticketing today is a $15 billion industry, so Mark's patents could be a grand slam. And patents are one of the ways that smart entrepreneurs know you can keep competitors at bay and potentially make big profits.
