This document describes the failed attempt of TicketHoy to import a Groupon-like flash deals business model to Latin America. They burned through invested capital and had to fire employees. However, they then focused on solving local problems by creating apps to reduce long lines at venues and provide digital tickets, adding a stable revenue stream. The key lesson was that adapting ideas to the local context is better than directly copying models.

1. C O P Y C AT
P R O J E C T : T I C K E T H O Y
( B A D )

2. Limited
Flash Deals
Like Groupon
T I C K E T H O Y
Additional Ticketing Platform

3. I N A
T H E AT E R
For reduce risks companies sell some seats in advances with lower prices.
H O W D O W E G E T T H AT T I C K E T S ?

4. I N A
T H E AT E R
€€
€
We receive money from startups
and governments programs
We hired a big sale team.
W E B U I LT A C O M PA N Y B A S E D O N T H I S B U S I N E S S M O D E L

5. I N A
T H E AT E R
Chile
Brasil
Argentina
T H E C A S H F L O W
In the next months we burned most the invested capital

6. We fired all our employers And also ourself
I T WA S A S A D T I M E

7. W E FA I L E D I M P O RT I N G T H I S B U S I N E S S M O D E L
I N L AT I N A M E R I C A
But we start thinking in our own local problems
And we find…

8. Long Lines

9. Even when they bought online tickets, users have to
wait ours to get the necessary printed copy to get in.

10. A P P F O R
V E N U E S
A P P F O R
U S E R S
A R E A L P R O B L E M T O S O LV E

11. We added a second business model and a new stable revenue stream.
And we started to grow.

12. Better than copy is to adapt thinking with your local context
We learned that:

13. T H A N K Y O U
Matias Puga
matias@matiaspuga.com