The Quiet Tech Maverick of London
When you think of London’s tech titans, names like Michael Acton Smith and Martha Lane Fox pop up instantly. But behind the flashier headlines, a few quieter characters are doing some serious wizarding. One of those unsung heroes is Ajay Chowdhury, the ex‑chairman of the music‑recognition sensation Shazam. You might not know him, but you’re probably already listening to the app that tells you the tunes playing on your couch.
Shazam: From a Music Matcher to a Multimillion‑Dollar Payday
Last year, Shazam hit a remarkable milestone when it secured a $40 million injection from none other than Carlos Slim, the second‑richest man on Earth. Ajay is still holding a slice of that pie—he’s all set to use the gains to fund his kids’ education.
Not Just a Music‑Genius: Ajay’s Other Big Wins
- Led ComQi, a global cloud‑based retail powerhouse.
- Grew LineOne into one of the UK’s biggest portal and ISP juggernauts.
- Serves on the board of the Department of Culture, Media and Sport as a non‑executive director.
Seatwave: The New Stage Coach
Now, Ajay’s latest adventure is steering the ticket‑resale platform Seatwave, which is churning out nearly $100 million in ticket sales each year. We sat down with him to get the inside scoop on his ambitions for the company.
What’s on the Horizon for Seatwave?
Ajay’s vision is simple: Make ticket resale as seamless as a roll‑up‑to‑your‑door pizza delivery. He’s keen on blending tech magic with user experience, hoping to turn the hassle of finding good seats into a breezy, almost invisible process. With his track record, there’s no doubt he’ll pull the strings just right.
Why Ajay Matters
Ajay may not flirt with the limelight as much as some other tech stats, but his hands‑on approach and proven knack for turning problems into opportunities make him a real linchpin in London’s tech ecosystem. His story reminds us that innovation often happens out of the spotlight, and that’s a pretty cool way to be.
Q. You’ve been involved with Shazam from day one. Tell us about your experience…
From a $100M VC to Shazam’s Baby, and Then to a Whole New Playground
I stepped into the venture world with a hefty $100 million capital fund—IDG Ventures Europe. My first bite was Shazam, and what a mouthful it’s become: now worth a few hundred million. But we didn’t start in a glossy penthouse; think cramped Regent Street cubicles, then a tax‑office‑down‑the‑lane in Kensington that could’ve been a haunted house. Those skids were a far cry from the gleaming HQs Shazam has today.
Shazam: The Studio‑Genealogy of a Tech Baby
I served as Shazam’s chairman for seven years, guiding the company through rough patches. I still own a small piece of the pie, hoping it bankrolls my kids’ college, because who else would? Shazam will always be my favorite—my little tech baby—but I decided to hang up the VC hat.
VC life was thrilling: being the lucky investor of game‑changing ideas. But I wanted to get my hands dirty, actually building and scaling companies, not just caving in at the gate.
Enter ComQi: Bridging Brick‑and‑Mortar with Digital
After Shazam, I founded ComQi, a retail‑technology powerhouse that attracted VCs. We didn’t just talk tech; we solved real‑world problems. Our key clients spelled out glamour, streetwear, fast food, and Toyland:
- Victoria Secrets
- H&M
- McDonald’s
- Toys“R”Us
Our mission? Link their offline stores to online sales, ensuring a smooth flow between the physical and digital realms.
Life‑Changing Move: From London to New York
Most of our ops took a quick flight to New York. Two weeks in London followed by two weeks in New York became a tiring cycle. I gave it a hard look—two-planet‑cycle business‑life had its limits.
Seatwave: The Final New Adventure
When the New York hustle wore me out, I joined Seatwave. It promised fresh challenges and a chance to keep growing, this time outside the classic VC domain. Thanks for the ride, Shazam; thanks to ComQi for the hustle; and here’s to the future groove at Seatwave.
Q. What attracted you to Seatwave?
Getting the Seats Really Fast: How I Turned Mobile Ticketing into a Whole New Fan Experience
What First Got My Attention
When I first stepped into Seatwave’s office, I felt the vibe of a place that’s all about music, theatre, and the arts. The team itself was a creative powerhouse—makes you feel like you’re walking into your favourite backstage crew.
Mobile Ticketing: The Under‑Explored Frontier
Even though the ticketing world gets as much love as a neon stage light, the mobile angle was a dark spot that none of the big players had really lit up. Coming from my time at Shazam, I saw a whole alphabet of opportunities that could make buying tickets feel like the first rehearsal of a show.
The Core Pain Points for Concert and Theatre Fans
- Not knowing a favourite artist’s tour schedule until it’s too late.
- Being caught staring at an empty cup of coffee while trying to find a ticket, stuck on a broken voucher page.
- Having a ticket stub that looks like a souvenir magnet that forgets the actual feeling.
My “Smart Alert” Blueprint
I envisioned a mobile app that buzzes as soon as your beloved artist hits the road. Picture this: you’re sipping tea, and a notification pops up, “Hey, Artist X is flying over your city next week!” With a single tap, you’re inside an effortless checkout—no card paragraphs, no long‑communications.
Turning Seatwave into a Fan Community Hub
Ticketing shouldn’t be the end of the story. I wanted Seatwave to become the social catalyst that pulls fans together before, during, and after a show. By letting fans:
- Share their excitement on social platforms.
- Post photos and videos from the live experience.
- Create a digital scrapbook that outshines the old ticket stub.
Why a Digital Memory Matters
Think of the ticket stub as an old lottery ticket that spoils after a winning moment. A digital memory, on the other hand, keeps the vibes alive, turning a simple event into a gem that keeps sparkling in the gallery of their life.
With these ideas, Seatwave would not just be a ticketing company, but the backstage pass that lets fans dive into the full spectrum of concert culture.
Q. What are the revenue streams for Seatwave?
How We Make Ticket Sales a Breeze
What We Take
- Seller’s Share: 10% of the ticket price when the seller lists the event.
- Buyer’s Share: 15% of the ticket price when the buyer checks out.
What’s in It for You
We give you the ticket—no more waiting in line at the door—and a big security guarantee. If something goes wrong—be it a bogus seller, a sneaky resell, or a glitchy checkout—you’ll get your money back. No risk, all reward.
Why It Works
By charging both sides, we keep everything fair and ensure everyone gets a solid, hassle‑free experience. Think of it as a safety net that keeps folks smiling and sellers confident.
Q. Major ticketing sites including Seatwave were marred by fake tickets last year. How are you dealing with the issue?
Seatwave: Your Ticket to Stress‑Free Concerts
Every time you snag a seat on our site, we’re giving you a rock‑solid promise: if the ticket turns out to be a dud, we’ll have you covered—no back‑talk, no hassle. You keep your hard‑earned cash. That’s how Seatwave rolls.
We Get It: You’re Not Just a Numbers Game
Attending a Will Smith or Katy P gig isn’t just a purchase; it’s a heart‑throb event. We know those cheers echo in your gut. That’s why when something goes sideways, we don’t just stuff a refund in your pocket.
- First, we’ll try to swap the ticket for a new one that’s good to go.
- If that’s not possible, the money comes straight back to you—no questions asked.
Keeping the Marketplace on the Right Track
Running a marketplace that sells millions of tickets is like juggling flaming torches while blindfolded. Absolutely impossible to police every single ticket in real time. But we’re on it.:
- We run rigorous checks on sellers to confirm authenticity.
- We’ll flag anything suspicious before it lands in the hands of eager concertgoers.
- Regular audits keep our snow‑ball of trust rolling forward.
Bottom line: when you book through Seatwave, you’re in safe hands. We’re here to keep your ticket dreams rolling smoother than a fresh vinyl record.
Q. Who are your competitors and how do you plan to take on them?
Why Seatwave Isn’t Just About Ticketing
Let’s face it: the ticketing world is crowded—Getmein, Stubhub, and Indiegogo all have big spots on the map. But here’s the twist:
- Seatwave’s vision is broader than just selling tickets.
- We’re reaching out to competitors to find synergies that benefit the fan experience.
- At the heart of it, it’s all about making fans’ moments smoother, more memorable, and just plain better.
In other words, we’re not competing—you’re the heroes. We’re teaming up to give fans the best possible journey from booking to the big event.
Q. What’s the ratio of fans versus bulk sellers on Seatwave?
Ticket Trade‑Tangle: Fans, Flippers, and the Fine Art of Pricing
Who’s on the Sell Side?
Most of the people putting tickets up for grabs are passionate fans—you know, the ones who’d trade a latte for a concert seat. Then there are the rare power sellers who treat tickets like fine wine—ready to sell at a price that makes your wallet squirm.
It’s Just a Marketplace, After All
No worries here; that’s the whole point. The platform is a public market, where supply meets demand. When buzz explodes around a new single, a sports blockbuster, or a high‑stakes show, prices naturally rise to the level the crowd is willing to pay.
What If Tickets Are Worth “Thousands of Pounds”?
When the news goes out that someone’s selling a ticket for a “thousand‑pound blowout,” the hype goes off the charts. Yet, in reality, these outrageously steep prices are the oddities, not the rule. Most tickets fetch a reasonable price—just enough to keep the fandom flowing and the sellers smiling.
- Fans: The heart and soul of the marketplace, trading nostalgia.
- Power sellers: The occasional thrill‑seekers, setting record‑low targets.
- Pricing: A living, breathing chart—hot when the event is hot.
- Delusion vs. Reality: High‑price rumors are stories; most seats are dollar‑friendly.
Q. But does that inflate prices?
Last‑Minute Ticket Frenzy
Watch out for the “last‑minute ticket” craze—it’s like a treasure hunt but with fewer map riddles and more discounted prices.
The Price Slash Phenomenon
Imagine a ticket that once cost £95 slipping down to just £25. Crazy, right? That’s the kind of sweet deal most ticket sites are making a habit of.
Why the Sharp Cuts?
- Supply & Demand: If a show’s already booked, the platform pushes the remaining seats out to desperate fans.
- Inventory Management: Organizers want to clear out the last row before the event, so they slash prices.
- Marketing Strategy: A stunning discount can spark buzz, attract more buyers, and drum up future revenue.
How to Spot a Good Deal
Keep an eye on the timing—late sales often come with the biggest discounts. Bonus: the cheaper the ticket, the bigger the thrill!
Stay Savvy & Happy Hunting
Being a smart shopper means staying alert for those quick‑sale offers. Remember, a ticket that looks like a bargain could be a golden opportunity to see stars like Justin Timberlake without breaking the bank.
Q. What are the future plans of Seatwave?
Making the Most of Our Pop‑Culture Momentum
We’re getting lucky—there’s no need to chase extra cash. Instead, we’re sharpening our mobile vibe and amplifying our social buzz.
We’re Eyes on the Future
- Global Expansion – Rolling out apps that feel like a backstage pass.
- Social Fireworks – Turning follows into conversations that click.
- Acquisitions
on the Horizon – Adding teams that make our portfolio sing.
The Ticket‑Selling Power Play
Two things drive every ticket sold: the lineup and the buzz. This season, the headline acts are Coldplay, Take That, and U2. Keep an eye—more big names are flying through the schedule.
Stay Tuned, Stay Curious
We’re poised to capitalize on every headline, every viral moment, and every new partnership. Let’s keep the excitement rolling and the seats filling fast!
Q. Why don’t tech companies want to list in London?
Why the UK Tech Scene is a Roller‑Coaster—but Still a Thrilling Ride
Ever wonder why London’s startup skyline looks so dazzling yet feels a tad shaky? Let’s dive into the twists, turns, and wild dips of the UK’s tech ecosystem.
Spotlight: The Bright Spark of Talent
- From AI dreamers in Manchester to fintech wizardry in Edinburgh, the UK has a goldmine of talent that keeps the innovation humming.
- These brains can turn an idea into a full‑blown product faster than you can say “start‑up.”
The Funding Fiasco: Why Startups Keep Heading to the US
After a seed round that shows the concept works, many teams need a sky‑high investment to keep the spark alive. Yet, stop‑gap financing in the UK often collapses into something akin to a puzzle with missing pieces.
- European VCs tend to be selective with an eyebrow raise—usually investing in just 6‑10 companies annually.
- When you have only about ten solid VCs, that’s a tiny slice—roughly 100 companies out of thousands—getting the main funding.
- To secure that “big‑money” leg, founders often set their sights on the U.S., where VC rosters are thicker and ready to roll.
Inside a VC’s Desk: The Reality of “Picking”
Picture a VC’s day: scrolling through pitch decks, sipping coffee, and deciding who gets a spot on the jackpot list. They’re looking for the next unicorn, not the next “project.” That means the startup market is a zero‑sum game for these capital gatekeepers.
Hope for a Bigger Picture
Despite the hurdles, the UK’s tech pulse is hard to ignore. New companies are popping up faster than you can spot a pop‑song. The challenge? Bridging the funding gap while keeping the excitement alive.
Stay tuned—because the next wave might just rewrite the rulebook.
Q. Then why have we not been able to produce big global companies?
Britain’s Innovation Sprint: A Tale of The “British Startup Spirit”
There’s a massive wave of creativity unfolding across the UK. Think of Shazam, Betfair and King Softworks – all born on British soil. It’s no secret that the country has always been a breeding ground for fresh ideas.
But why does Britain still struggle to land the next global unicorn? The answer lies in a unique entrepreneurial DNA. While U.S. founders would snip a billion‑dollar offer hand because they feel “they’re worth so much more,” many UK entrepreneurs take a pragmatic swing – turning down a reward of $50 million to $100 million with a calm “yes.”
The Serial‑Entrepreneurial Magic
- UK founders are serial dogs, ready to re‑roll the dice after each episode.
- This fearless, “give it another shot” vibe is only just sprouting in the U.K., thanks to trailblazers like Martha Lane Fox and Brent Hoberman who’re spear‑heading fresh ventures.
- The culture is slowly learning that big, bold bets can still pay off without the need for a billion‑dollar headline.
Bottom Line
Brit’s creative heart beats stronger each day. The courageous, go‑for‑it mentality is proving that you don’t need a trillion‑dollar offer to ignite the next startup star. The UK’s entrepreneurial scene is geared for growth, one daring leap at a time.
Q. Is there a tech bubble?
Is the Tech Bubble Ready to Pop?
Think about that over‑inflated stock chart you saw yesterday
Picture this: the market’s feeling a little toasty, like a giant soufflé that might just collapse. Even King—the brand that everyone was hyping—ended up feeling a bit underwhelmed with its IPO performance. If that’s a red flag, tech firms should be tightening their safety nets.
What the Future Holds
- Expect a ripple in that frothy trend; don’t take the whole market for granted.
- Tech teams must pivot quickly—think agile decks and backup plans.
- Final tip: stay humble, stay ready, and keep rememberin’ that even bubble‑filled soda tastes better when it’s not fizzing out.
Bottom Line
Those who keep the budget tight and the mindset agile will be the ones surfing the wave—aside from those who ride the burst like a giant wave of disappointment.
Q. Finally, tell us about your role at the Department for Culture, Media & Sport (DCMS)?
Bringing Super‑Fast Broadband to Every Corner of the UK
Kick‑off: The DCMS Adventure
Picture me, fresh out of university, stepping into the Department for Digital, Culture, Media & Sport last year. I was excited, a bit nervous, and, frankly, thrilled to be in the thick of things that shape our nation’s future.
The Mission: 99% Internet Coverage
Fast, reliable internet isn’t just a luxury—it’s the engine for economic growth. Right now, some parts of London still feel “in the dark.” 3‑G is handing out bad service, and the majority of people in the capital are stuck talking in slow, dial‑up ghosts.
Gold‑Standard Stats
- Ofcom’s Gold Medal: The UK tops the whole of Europe in broadband quality.
- Target: 95–99% penetration – that would beat every other country in the world.
Vouchers for the Upside Upside
DCMS has rolled out a fresh set of vouchers that let companies leap from slow dial‑up to blazing‑fast broadband. The idea? Give businesses the boost they need without the startup hassle.
Why It Matters
Every extra percentage of coverage means:
- More students getting online for that remote lecture.
- Better small‑biz connectivity, so entrepreneurs can thrive.
- More people able to work from home (hello, flexible schedules!).
Getting There: A Playful Roadmap
We’re setting up rapid‑deployment teams, pounding into those “black spots” with super‑fast cables, and pushing connectivity like a choir hums in sync.
- Step 1: Map coverage gaps.
- Step 2: Coordinate with local councils.
- Step 3: Install infrastructure.
- Step 4: Test, tweak, and shout it from the rooftop.
Will It All Work?
Sure. These are the same steps that took us from 2G to 5G. If anything, you’ll be left wondering why your Wi‑Fi is getting slower.
Wrap‑Up: The Future is Already Here
With the DCMS leading the charge, the UK’s super‑fast broadband dreams are becoming a reality—one meter at a time, one voucher at a time, and one gigabit at a time.
Thanks for your time Ajay.
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