Vivid Seats

Vivid Seats was founded in Chicago, Illinois, in 2001 by Jerry Bednyak and Eric Vassilatos.{{cite web|last=McLean|first=Tessa|date=March 3, 2015|url=http://www.builtinchicago.org/2015/03/27/3-ways-bootstrapped-business-built-culture|title=How bootstrapped Vivid Seats attracted 100+ new hires in each of the last 2 years|work=BuiltInChicago.com|access-date=April 14, 2020|archive-date=April 14, 2019|archive-url=https://web.archive.org/web/20190414013031/https://www.builtinchicago.org/2015/03/27/3-ways-bootstrapped-business-built-culture|url-status=live}}

Its major investors include Vista Equity Partners (2016) and GTCR (2017). GTCR bought a majority stake for a rumored $575 million.Ecker, Danny (16 March 2017). "[http://www.chicagobusiness.com/article/20170516/BLOGS04/170519885/gtcr-buys-stake-in-ticket-reseller-vivid-seats GTCR buys stake in ticket reseller Vivid Seats]"Paul Hastings (7 May 2018) "[https://www.paulhastings.com/news/details/?id=46aeb46a-2334-6428-811c-ff00004cbded] {{Webarchive|url=https://web.archive.org/web/20180511012622/https://www.paulhastings.com/news/details/?id=46aeb46a-2334-6428-811c-ff00004cbded|date=2018-05-11}}"

The company went public on October 19, 2021 after a merger earlier in 2021 with Horizon Acquisition Corporation, a SPAC. It trades on Nasdaq as SEAT. Todd Boehly is chairman of Horizon Acquisitions Corporation, which announced that “Eldridge Industries, LLC, an affiliate of Horizon’s sponsor...has entered into an agreement with DraftKings to make a private placement PIPE investment in connection with the closing of the previously announced merger between Horizon and Vivid Seats.”{{cite news |url=https://www.globenewswire.com/news-release/2021/10/14/2314420/0/en/Horizon-Acquisition-Corp-Announces-PIPE-Investment-by-DraftKings.html |title=Horizon Acquisition Corp. Announces PIPE Investment by DraftKings |work=Globe News Wire |date=October 14, 2021 |access-date=October 19, 2021 |archive-date=October 19, 2021 |archive-url=https://web.archive.org/web/20211019230210/https://www.globenewswire.com/news-release/2021/10/14/2314420/0/en/Horizon-Acquisition-Corp-Announces-PIPE-Investment-by-DraftKings.html |url-status=live }}

Vivid Seats closed 2023, its second full fiscal year as a public company, with net income of $74.5 million and revenue of $712.9 million, a 19% increase over FY 2022.{{cite web |title=Vivid Seats (NASDAQ:SEAT) Full Year 2023 Results |url=https://finance.yahoo.com/news/vivid-seats-full-2023-earnings-123649933.html |publisher=Yahoo |access-date=22 April 2025 |date=March 10, 2024}} In January 2022, the company reported that it had reached its 100 millionth ticket sold.{{cite web |last1=Spurway |first1=Genevieve |title=Vivid Seats celebrates 100 millionth ticket sale |url=https://www.theticketingbusiness.com/2022/01/vivid-seats-celebrates-100-millionth-ticket-sale/ |website=TheTicketingBusiness.com |publisher=Xperiology |access-date=22 April 2025}}

Vivid Seats sells tickets in three event categories:{{cite web |last1=Golum |first1=Rob |title=DraftKings Invests in Vivid Seats SPAC as Boehly Cuts Stake |url=https://www.bloomberg.com/news/articles/2021-10-14/draftkings-to-make-investment-in-soon-to-be-public-vivid-seats |website=BloombergBusiness.com |publisher=Bloomberg LP |access-date=13 April 2025 |date=October 14, 2021}}

Sports – All major professional leagues (MLB, NFL, NBA, MLS, and NHL), college sports, and a wide variety of other sporting activities including golf, car racing, rodeo, boxing, and mixed martial arts.

Concerts – Musical acts across a broad range of genres touring major venues, small venues, and music festivals.

Theater – Broadway and off-Broadway plays and musicals, family entertainment events, comedy acts, and speaker series and regional productions, Las Vegas acts; and productions in national venues.

Vivid Seats divides its business into Marketplace and Resale. Marketplace functions as an intermediary between ticket buyers, sellers and partners, earning revenue from processing ticket sales from its owned properties — websites and mobile applications, such as Vegas.com and Wavedash — and from numerous distribution partners. The Marketplace segment also includes Vivid Picks, a daily fantasy sports site. Marketplace facilitates customer payments, deposits and withdrawals, coordinates ticket deliveries, and provides customer service, earning revenue from service and delivery fees. Vivid Seats Resale buys event tickets to resell and holds ticket inventory.{{cite web |title=Form 10-K |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001856031/000095017025037612/seat-20241231.htm |website=SEC.gov |publisher=US Securities and Exchange Commission |access-date=23 April 2025 |date=March 12, 2025}} {{Cite web | url=https://www.techjunkie.com/vivid-seats-vs-stubhub/ | title=Vivid Seats vs. StubHub – Which Ticket-Buying Platform is Better? | access-date=2017-09-14 | archive-date=2017-09-14 | archive-url=https://web.archive.org/web/20170914125446/https://www.techjunkie.com/vivid-seats-vs-stubhub/ | url-status=live }}

Additional features include, Vivid Seats Rewards, a customer rewards program{{cite web |title=Vivid Seats Launches Strategic Rebrand Along with New and Improved Rewards Program |url=https://loyalty360.org/content-gallery/daily-news/vivid-seats-launches-strategic-rebrand-along-with |website=Loyalty360.org |publisher=Loyalty360 |access-date=24 April 2025 |date=July 30, 2021}} and Game Center, a daily mobile game app in which players can win points toward future purchases. Skybox is a B2B feature used by ticket suppliers{{cite web |last1=Fuller |first1=Eric |title=The Return Of Resale Ticketing. Vivid Seats Dances While StubHub Spins. |url=https://www.forbes.com/sites/ericfuller/2020/11/29/the-return-of-resale-ticketing-vivid-seats-dances-while-stubhub-spins/ |website=Forbes.com |publisher=Forbes LLC |access-date=23 April 2025 |date=November 29, 2020}} to manage their ticket inventory, sales and prices.

In 2019, Vivid Seats began a series of acquisitions. In April of that year it bought Fanxchange, a Toronto-based software company specializing in ticketing solutions for loyalty programs, financial institutions, and hotel operators, among other entities.{{cite web |last1=Dallke |first1=Jim |title=Vivid Seats acquires fantasy sports startup in deal worth up to $65M |url=https://www.bizjournals.com/chicago/inno/stories/news/2021/12/13/vivid-seats-acquires-betcha-sports.html |website=ChicagoInno.com |publisher=American City Business Journals |access-date=2 April 2025 |date=December 13, 2021}}{{cite web|url=https://www.chicagobusiness.com/john-pletz-technology/vivid-seats-buys-toronto-company-plans-hiring-spree|title=Vivid Seats buys Toronto company, plans hiring spree|publisher=Chicago Business|author=John Pletz|date=11 April 2019|access-date=11 April 2019|archive-date=11 April 2019|archive-url=https://web.archive.org/web/20190411195342/https://www.chicagobusiness.com/john-pletz-technology/vivid-seats-buys-toronto-company-plans-hiring-spree|url-status=live}}

In December 2021, Vivid Seats acquired Betcha Sports, Inc., a daily fantasy sports mobile application with social and gamification features. In August 2022, the company rebranded Betcha as Vivid Picks, LLC and integrated it into its features. In 2023, Vivid Seats announced the purchase of WD Holdings Co., Ltd. or “Wavedash,” an online ticket marketplace headquartered in Tokyo; and Vegas.com, a travel website that informs users on shows and attractions in Las Vegas, for $240 million in a cash-and-stock deal. {{Cite web |last=Thomas |first=Lauren |title=WSJ News Exclusive {{!}} Vivid Seats Makes Big Bet on Las Vegas |url=https://www.wsj.com/business/deals/vivid-seats-makes-big-bet-on-las-vegas-e1d482d1 |access-date=2023-11-08 |website=WSJ |language=en-US}}

Vivid Seats has numerous partnerships for ticketing and other services with media outlets, sports teams, and rewards programs.

It is the official ticket provider for ESPN, as of February 2017, replacing StubHub;Fisher, Eric (16 February 2017). "[http://www.sportsbusinessdaily.com/Daily/Morning-Buzz/2017/02/16/ESPN-Vivid.aspx ESPN signs deal with Vivid Seats, opting out of pact with StubHub] {{Webarchive|url=https://web.archive.org/web/20170219182229/http://www.sportsbusinessdaily.com/Daily/Morning-Buzz/2017/02/16/ESPN-Vivid.aspx |date=2017-02-19 }}". Sports Business Daily. Retrieved 16 May 2017. Sports Illustrated;Velasco, Haley (8 April 2017). "[http://www.thedrum.com/news/2017/04/08/time-inc-chooses-vivid-seats-official-ticketing-partner-the-sports-illustrated-group Time Inc. chooses Vivid Seats as official ticketing partner for the Sports Illustrated Group] {{Webarchive|url=https://web.archive.org/web/20170507011717/http://www.thedrum.com/news/2017/04/08/time-inc-chooses-vivid-seats-official-ticketing-partner-the-sports-illustrated-group |date=2017-05-07 }}". The Drum. Retrieved 16 May 2017.

and The Bleacher Report, the sports website and media brand.

Its college team partnerships include University of Tennessee, the University of Rhode Island, University of Notre Dame and Duke University,Staff (15 January 2018). [https://www.sportsbusinessdaily.com/Journal/Issues/2018/01/15/In-Depth/Vivid-Seats.aspx Vivid Seats’ active dealmaking] {{Webarchive|url=https://web.archive.org/web/20180328041237/https://www.sportsbusinessdaily.com/Journal/Issues/2018/01/15/In-Depth/Vivid-Seats.aspx |date=2018-03-28 }}. Sports Business Journal. Retrieved 27 March 2018. while its pro team partners for ticketing and other services, include Los Angeles Clippers{{cite web|title=Vivid Seats Named Official Ticketing Partner of the LA Clippers|url=https://www.nba.com/clippers/vivid-seats-named-official-ticketing-partner-la-clippers|publisher=National Basketball Association|date=August 13, 2018|access-date=September 12, 2018}} of the NBA.

Vivid Seats has partnered with Capital One to launch Capital One Entertainment, a rewards program for cardholders.{{cite web |title=Vivid Seats, Capital One Partner on Ticket Portal |url=https://www.pymnts.com/partnerships/2022/vivid-seats-capital-one-partner-on-ticket-portal/ |website=PYMNTS.com |access-date=7 February 2025 |date=March 30, 2022}}

{{Reflist}}

• {{Official website|https://www.vividseats.com}}

Category:2001 establishments in Illinois

Category:Companies based in Chicago

Category:Companies listed on the Nasdaq

Category:Ticket sales companies