Many businessmen and investors would give up after facing losses worth millions of dollars. But not Alex Rodriguez. The former New York Yankees superstar has built a business empire in his years after retiring. One of his companies recently suffered a $300 million loss after a shift amongst its investors and shareholders. But despite this, Rodriguez has not given up or accepted defeat. 

In fact, the $350 million worth businessman has started a new venture in the face of this adversity. He recently collected $20 million in investment for the business, crediting his New York Mets failure with ex-fiancee Jennifer Lopez for teaching him an important lesson. 

Alex Rodriguez learned about the fan-ticketing industry during his failed New York Mets bid

Alex Rodriguez was furious over losing the New York Mets bid. But the former baseball star learned a huge lesson during the experience. Most recently, Rodriguez started his new fan experience and ticketing venture called Jump with business partner Marc Lore. Furthermore, he credited the bidding process for the Mets with teaching him about the industry. A-Rod and Lore were able to bring in $20 million of outside investment for their new venture.

According to a Bloomberg article, Jump is a “new ticketing and fan experience business that they hope will outperform the industry’s troubled incumbents.” A-Rod and Lore started considering the sector when they “got a look under the hood of a professional sports franchise”. This was during their attempt to buy the Mets. They also learned of the untapped opportunities when it comes to the fan experience as owners of the Minnesota Timberwolves. 

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Rodriguez and Lore are entering the industry with the aim to improve the fan’s experience as a whole. It will be interesting to see how this newest venture goes, with a market developing for it. But the two do have some new ideas and perspectives that they are bringing to the table.

A-Rod and Lore are looking to optimize fan-ticketing

Alex Rodriguez and Marc Lore are looking to bring fresh ideas to the fan experience and ticketing industry. With Jump, they aim to provide a service that caters to fans, weeks before, during, and weeks after a game. They entered the market at the perfect time, with big competitors facing issues. 

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Furthermore, this will give fans more flexibility when it comes to how they experience games and other events. What do you think of the fact that Alex Rodriguez used his failed New York Mets bid as a learning experience? Please share your thoughts in the comments below.