HiLoTickets.com was started in March 2011.

HiLoTickets.com was started in March 2011.

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Tweet Business of the Day: HiLoTickets.com

By Columns FOXBusiness

We’re highlighting “tweet” small businesses from around the country as nominated by you, our readers. If your favorite small business is using Twitter to communicate with customers, let us know about it @fbsmallbiz with the hashtag #mysbc, and it may be featured as an upcoming Small Business of the Day.

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Tweet Business of the Day: HiLoTickets.com

Who: Co-founders Rob Perez and Ian Wells, both 23

What: A ticket-auctioning site for sports, concerts and theater shows

When: March 2011

How: Perez said he and Wells were inspired to start their penny auction-style ticket site to market tickets to major events at lower prices.

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"The idea sprang from trying to find those high-demand, premium tickets without emptying your bank account," he said. "It's a unique auction format, because it’s like an arcade. If you win, you get about 85% to 90% off of the ticket value." If you lose the auction, you get your credits returned to you to use on a different auction on the site.

Where: Wilton, Conn.

In his own words: "It originated from being a fan, and trying to get the ticket you want."

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