SEAT - SeatGeek said to file confidentially for IPO - report

2023-04-19 15:54:27 ET

• Event ticketing firm SeatGeek filed confidentially for a U.S. initial public offering this month.
• SeatGeek expects to generate more than $500 million in revenue this year, according to a report from The Information, which cited people familiar.
• SeatGeek competes with Live Nation ( LYV ), the owner of TicketMaster,  as well as with Vivid Seats ( SEAT ), which went public through a SPAC deal in October 2021. Vivid Seats shares have have dropped ~40% since going public. SeatGeek also competes with StubHub.
• In late August SeatGeek said it raised $238 million as part of a Series E financing round led by long-time investor Accel, valuing the ticketing company at a $1 billion on a pre-money basis.
• In June former SPAC RedBall Acquisition Corp. and SeatGeek  that they had mutually agreed to terminate their planned merger agreement due to unfavorable market conditions.

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