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Vivid Seats Inc. (NASDAQ: SEAT) is the largest independent online ticket marketplace, specializing in connecting fans with live events. Founded in 2001 and headquartered in Chicago, Vivid Seats provides tickets for a wide variety of live events, including sports, concerts, theater, and comedy shows across the United States, Canada, and Japan. The company operates in two primary segments: marketplace and resale.
Core Business: As the official ticketing partner for several major entertainment brands, such as ESPN and Rolling Stone, Vivid Seats facilitates an unmatched ticket-buying experience through its innovative fan-to-fan selling platform. The company's longstanding relationships with certified ticket resellers ensure a secure and seamless transaction process for both buyers and sellers.
Recent Achievements: Vivid Seats has continually demonstrated its ability to innovate and grow. The company recently secured a partnership with Stockperks, providing exclusive perks to shareholders, including discount codes and game center tokens. Furthermore, Vivid Seats has been recognized by Built In as one of the Best Places to Work for three consecutive years, showcasing its commitment to a positive work environment and employee satisfaction.
Financial Condition: Vivid Seats has consistently shown robust financial performance. In 2023, the company achieved significant operational and financial milestones, setting a strong foundation for durable growth. Key performance indicators for 2023 reflect a successful year, with further growth anticipated in 2024 as indicated by their Q1 projections.
Partnerships and Products: Vivid Seats has formed strategic partnerships with iconic brands like ESPN, Sports Illustrated, and the Los Angeles Dodgers, enhancing its market presence. The company's proprietary technology and software not only drive its ticketing ecosystem but also power its daily fantasy sports app, Vivid Picks.
Customer Experience: Vivid Seats is committed to providing exceptional customer service, which has been recognized by Newsweek as one of America's Best Companies for Customer Service in ticketing. Their industry-leading rewards program allows fans to earn on every purchase, further enhancing the overall customer experience.
For more information, visit Vivid Seats.
Vivid Seats Expands Partnership with San Francisco 49ers
Vivid Seats Inc. (NASDAQ: SEAT), a leading ticket marketplace, has extended its multi-year partnership with the San Francisco 49ers to enhance fan experiences. Since 2017, Vivid Seats has served as the Official Fan Travel Experience Partner, and now also becomes the Official Gameday Fan Experience Partner. This includes exclusive travel packages and unique gameday experiences for fans, highlighting its commitment to delivering memorable live event experiences. The partnership coincides with the 49ers' NFC Championship Game appearance.
Vivid Seats (NASDAQ: SEAT) has renewed its partnership with ESPN, enhancing their digital integration and focusing on media outreach. As the Official Ticketing Partner, Vivid Seats will continue offering users access to a wide range of sporting event tickets. The relationship aims to provide a personalized ticket-buying experience utilizing Vivid Seats' technology. With ESPN's reach surpassing 150 million monthly users, the partnership is projected to drive significant growth for both companies. Vivid Seats has also launched a media campaign to promote its new brand identity across ESPN platforms.
Vivid Seats Inc. (NASDAQ: SEAT) celebrates the sale of its 100 millionth ticket with a $100,000 donation to MusiCares®. The milestone signifies Vivid Seats' substantial growth and strong consumer demand for live events. The company reported record third-quarter results, with $713 million in gross order volume, $140 million in revenue, and $42 million in adjusted EBITDA. Vivid Seats' technology platform connects buyers with sellers, enhancing the live event experience. The company continues to emphasize loyalty through its rewards program, offering 10% value back on ticket purchases.
Vivid Seats (NASDAQ: SEAT) announced its participation in two upcoming investor conferences. The first is the Citi 2022 AppsEconomy Virtual Conference on January 6, 2022, featuring a discussion with CEO Stan Chia and CFO Larry Fey at 10:00 AM ET. The second is the ICR Virtual Conference 2022 on January 11, 2022, at 1:00 PM ET, also with Chia and Fey. Live webcasts for both events will be available on Vivid Seats' Investor Relations page, ensuring access to financial insights.
Vivid Seats has finalized the acquisition of Betcha Sports for $25 million in equity, with potential earnouts of up to $40 million. This strategic move aims to integrate Betcha's gaming platform into Vivid Seats' technology, enhancing customer engagement through social gaming experiences. CEO Stan Chia emphasized that this acquisition expands their total addressable market and creates synergies with existing fan bases, allowing for innovative gaming opportunities tied to live events.
Vivid Seats (Nasdaq: SEAT) will participate in upcoming investor conferences, including the 2021 RBC Capital Markets Global Technology Conference on November 17 and the Credit Suisse 25th Annual Technology Conference on November 30. Executives Stan Chia and Lawrence Fey will take part in these events, discussing Vivid Seats' operations and strategy. Interested investors can access live webcasts through the Vivid Seats Investor Relations site. Vivid Seats is a top ticket marketplace, enhancing fan experiences across North America.
Vivid Seats reported robust Q3 2021 results with revenues of $139.5 million, a significant increase from negative $7.1 million in Q3 2020. The company achieved a Marketplace Gross Order Value (GOV) of $713.1 million, rising from negative $30.8 million year-over-year. Adjusted EBITDA soared to $42.0 million, compared to negative $19.5 million in the same quarter last year. Despite a net loss of $1.8 million, a notable improvement from $40.2 million, the company is optimistic about future growth, bolstered by a new branding strategy and enhanced customer rewards.
Vivid Seats Inc. (NASDAQ:SEAT) will release its third-quarter 2021 financial results on November 15, 2021, prior to the U.S. market opening. The live webcast of the discussion will occur at 8:30 a.m. ET. Vivid Seats connects millions of buyers with ticket sellers for various events and is recognized for its customer service.
With a commitment to enhance live experiences, the company offers a broad selection of events and a Rewards program, partnering with notable brands like ESPN and Rolling Stone.
Vivid Seats Inc. filed an 8-K with the SEC on October 25, 2021, detailing financial guidance for full-year 2021. The company anticipates Marketplace GOV between $2.225 billion to $2.325 billion, revenues of $420 million to $435 million, and Adjusted EBITDA of $102 million to $107 million. Notably, Vivid Seats expects a reduced negative impact from COVID-19 compared to previous forecasts. The business combination with Horizon Acquisition Corp. was completed on October 18, 2021, marking its trading debut on Nasdaq under the symbols SEAT and SEATW.
Vivid Seats Inc. has secured its listing on the NASDAQ Global Select Market under the symbol SEAT, starting October 19, 2021. The CEO, Stan Chia, expressed excitement over the public listing, emphasizing the company's commitment to enhancing its ticketing marketplace. Additionally, Vivid Seats announced a special dividend of approximately $0.23 per share of Class A Common Stock, with a record date of October 29, 2021, and payment expected shortly thereafter. Established in 2001, Vivid Seats connects fans to live events, offering expansive ticket selections and a rewards program.
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