Vivid Seats announced this week that it has completed the transaction to acquire Wavedash, an online secondary ticket marketplace based in Japan. The Illinois-based ticket resale platform announced the acquisition earlier in 2023, then markeed the deal closed in an all-cash transaction this week.
“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.”
According to Vivid Seats, the effect of approximately four months of contribution from Wavedash was already included in the calculations leading up to its August 8 updated financial guidance. Vivid Seats, trading as SEAT on Nasdaq, will include Wavedash in its marketplace segment for financial reporting purposes. The deal was valued at approximately ¥8.7 billion (approximately $61 million) in cash.
Last Updated on September 13, 2023