Event registration is a $100 billion industry. Approximately $2 billion will be spent on entry fees for run/walk/ride events in 2013, from local 5Ks to international triathlons. RaceMenu's all-in-one event management and marketing tools help these event organizers lower their costs and increase attendance through incentivized social sharing.
Event organizers struggle with maximizing participation and profitability because they are bogged down by time-consuming administrative tasks, inefficient marketing methods and dealing with multiple service providers. Meanwhile, event participants struggle with finding the most socially relevant events and once there, the event experience is negatively impacted by inefficient, paper-based registration procedures and legacy systems for timing, results and photography.
Our core product is event registration; we earn a service fee on each transaction processed via our website at racemenu.com and Raceday, our mobile solution for on-site registration and payment. We recently launched Share, a social media tool which posts live race results and messages to Facebook and Twitter on behalf of the participants. In addition to our software solutions, we also offer race timing, results and photography services to event organizers of run, walk, triathlon and obstacle course events.
Historically, most of our customers are typically either single-person event organizers or non-profit organizations producing their own fundraiser running events with 200-1,000 participants. Our timing services and recently launched Share app have brought in larger (4,000 participants) for-profit events and our beta mobile app has gained the interest of large, international events.
Our primary competitive advantage is an innovative all-in-one solution from a passionate team focused on user-friendly products and outstanding customer service. Our software as a service incentivizes social actions which turn event participants into event marketers. As we grow, we aim to scale this network into a highly social, device-driven aggregation of all endurance event activity.
We are athletes, event organizers and early adopters of new technology. We know our space better than our competitors, we operate lean and swiftly and we've got the grit, passion and skills to succeed.
With more than 50% market share, Active.com leads the run/walk/ride vertical. Eventbrite leads the broader event registration/ticketing market and recently began targeting endurance events. Secondary competitors include ConstantContact, SignMeUp, BazuSport and IMAthlete.