The founders sold their previous company to Ticketmaster. From http://techcrunch.com/2011/04/19/ticketmaster-rival-ticketfl...:

<<Ticketfly has an interesting origin story, the company’s co-founders sold their first startup, TicketWeb to industry leader Ticketmaster for $35 million in 2000 and then left that company in 2008 to form Ticketfly.>>