User:Spud2482/Don Vaccaro: Difference between revisions
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Donald Vaccaro | |
|---|---|
| Nationality | American |
| Alma mater | University of Michigan (B.S.) Stanford University (M.S.) |
| Occupations | Entrepreneur |
| Known for | CEO and Co-founder of TicketNetwork |
| Title | CEO of TicketNetwork |
| Website | www.vaccaro.com |
Donald Vaccaro is an an American entrepreneur and philanthropist. He is the co-founder and CEO of TicketNetwork, an online marketplace in the ticket resale industry. He founded the company in 2002 with software developer Doug Kruse.[1] Vaccaro also has interests in lending and real estate.
Early life and education
TicketNetwork operates under a model similar to eBay, where tickets are listed on the company's marketplace, but transactions are handled by the individual seller. Buyers are charged a service fee for tickets purchased, plus a delivery fee, depending on the method of delivery, location, and time until the event.[2] Once the tickets are available, the seller ships them directly to the buyer. Sellers are able to list and manage tickets on the marketplace via the TicketNetwork Point of Sale software.
Business career
TicketNetwork operates several retail websites such as TicketNetwork.com and TicketLiquidator.com. It also sponsors an annual trade show called Ticket Summit, which attracts resellers and other ticket industry figures.[3] Additionally, the company operates TicketNews, an industry news site; and the Better Ticketing Association, a website containing information and resources for the ticket resale industry.
Philanthropy
In July 2011 TicketNetwork received a $4.5 million and $1.8 million loan as part of the State of Connecticut's First Five Program, in exchange for hiring at least 200 people over two years time. TicketNetwork also received a $250,000 grant for the training of engineers.[4] TicketNetwork later withdrew from this program after its then CEO, Don Vaccaro, was arrested in February 2012 after allegedly behaving inappropriately while intoxicated. Shortly after the incident, Vaccaro announced he would be taking an indefinite leave from the company to seek treatment for alcohol abuse, but denied that he had behaved inappropriately.[5] On May 29, 2012, Hartford Superior Court Judge, Jane Alexander, agreed that the charges could be dismissed if Vaccaro completed a two-year accelerated rehabilitation program, a form of probation, imposing conditions such as treatment for substance abuse and abstension from alcohol. [6]
Personal life
Vaccaro lives in Connecticut and is married with one daughter.
See also
References
- ^ Bergman, Becky (March 28, 2011). "At TicketNetwork, the value is in the connection". Hartford Business Journal Online. Retrieved 2011-04-14.
- ^ Moroz, Yelena. "How to Find Sold-Out Tickets Online". RealSimple Magazine online. Retrieved 2011-04-14.
- ^ Sisario, Ben. "Ticket Resellers Step Out of the Shadows". New York Times. Retrieved 2011-10-24.
- ^ Lee, Mara. "TicketNetwork Is Second Company To Claim 'First Five' Incentives". Hartford Courant. Retrieved 2011-12-05.
- ^ Kane, Brad. "Vaccaro taking leave from TicketNetwork". Hartford Business Journal. Retrieved 2012-02-28.
- ^ Dempsey, Christine (29 May 2012). "Former TicketNetwork CEO Vaccaro Denies Making Slurs". Hartford Courant. Retrieved 26 March 2013.