Once dubbed the “Priceline for movie tickets”, the company Dealflicks closed its business in 2018, shortly after our interview with founder Sean Wycliffe back in 2017. Sean and his team created a movie ticket marketplace for smartphones. The ticket prices would change in real-time with supply and demand in order to sell out theaters. The idea was brilliant, and the company had major success. Raising more than $4 million in addition to signing on 13 of the top 50 theater chains, the company was thriving. Run by the co-founders and their team, the company got theaters to become clients by traveling around the country in their minivan. However, the big movie chains started to chip away at Dealflicks’ business after realizing the potential of the idea.
After years of revolutionizing the movie industry, Dealflicks was forced to stop operations. With big businesses such as AMC offering new subscription services, Dealflicks was squeezed out of the market. The story serves a valuable lesson, however. Even if there’s enough funding, a motivated team, and a great idea, some businesses will still fail. It’s important to study the companies that fell short just as much as the ones that were successful to appreciate how difficult it is to run a business from start to finish.