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Theodore Farnsworth

Texomas: What the tech: Moviepass App

Today, a single movie ticket is as high as $20 in some cities.

That's too much to see more than 2-3 movies in a month. Not to mention the popcorn and drink and a night out at the movies for me and a date can easily hit $35 and more if you choose to see a film in IMAX or 3D!

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Bloomberg Markets: MoviePass Is Overwhelmed With Orders After Slashing Prices

MoviePass Chief Executive Officer Mitch Lowe, a co-founder of Netflix Inc., admits he “totally underestimated demand.” With a staff of just nine people, the company “was nowhere near prepared,” he said in an interview. It has since boosted the team to 35 to deal with the backlog.