I'm Shmacked allegedly raised a bunch of venture capital money to continue doing what they do best. Here's what they told us exclusively:
I'm Shmacked is a start-up company run by Arya Toufanian, 21, and Yofray Ray, 20, two college dropouts who are on the fast-track to Silicon Valley. They recently closed a Series A round to value I'm Shmacked at $5,000,000 receiving more than $500,000 in a cash up front deal from a single undisclosed partner.
In other I'm Shmacked related news, rumors on the Internet have been circulating pointing at a bidding war between several major Hollywood production companies for their television and theatrical rights, Toufanian refused to comment stating, “We would like our privacy as we continue to scale I'm Shmacked.”
“There's a lot of talk in today's marketing world about social media, but you can't force viral promotion and marketing. I'm Shmacked is as natural and organic as it gets,” Zach Ruben from Prime Social Group says. That's what got L.A.-based Wantickets to partner with I'm Shmacked to handle ticketing for all of the events. “We recognized very early on that not only were they unique to the marketplace with non-traditional venues, but they were not relying on talent to sell a show. They had a brand,” says Diego Carlin, chief marketing officer for the company. “The marketplace we're in is youth-driven, and why not take a chance on guys that are part of their generation?” Toufanian is confident his next round will be at a significantly higher revenue multiple and though five million is flattering he believes it small compared to what he sees in his future Series B round.