SEATW - Vivid Seats Completes Acquisition of Wavedash | Benzinga
CHICAGO, Sept. 08, 2023 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (NASDAQ:SEAT) ("Vivid Seats"), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today announced that it has completed the acquisition of WD Holdings Co., Ltd. ("Wavedash") in an all-cash transaction. Wavedash is an online secondary ticket marketplace in Japan with a market-leading position and accretive Adjusted EBITDA margins.
"Today marks the beginning of a thrilling international journey for Vivid Seats," said Stan Chia, Vivid Seats CEO. "International markets collectively represent a compelling growth opportunity as concerts grow in popularity worldwide and as international secondary ticketing continues to develop. We are excited to leverage learnings from Wavedash as we contemplate additional opportunities to drive profitable growth in the long-term."
The effect of approximately four months of contribution from Wavedash was contemplated in Vivid Seats' financial guidance provided on August 8. Wavedash will be included within the Marketplace segment.
About Vivid Seats
Founded in 2001, Vivid Seats is a leading online ticket ...