The Chicago-based secondary ticketing marketplace Vivid Seats is reportedly exploring a sale, according to various media reports.
Bloomberg first reported that the marketplace is considering a sale after receiving takeover interest, people with knowledge of the matter told the publication. The sources noted that Vivid Seats is working with an adviser to gauge interest with potential suitors and has attracted interest from private equity firms.
At this point, the sources said the company is still deliberating, and there’s no guarantee that a sale would come from these discussions. TicketNews has reached out to Vivid Seats for comment.
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As of Monday, Vivid Seats’s (NASDAQ: SEAT) sales have risen to 23% and closed at almost 20%, which gives the company a market value of $943 million. Over the past year, shares of the company had fallen 40%. Vivid Seats went public in 2021 in a special purpose acquisition company (SPAC) merger at $10 per share, which was valued the company at $1.95 billion.
Earlier this year, Vivid Seats reported a decrease in revenue and net income in its Quarter 3 Earnings Report. CEO Stan Chia noted that the company believes that the “headwind from concert supply” will remain temporary, with expectations of industry growth in 2025 “as concerts return top their long-term trend.”
In 2023, Vivid Seats acquired the travel agency Vegas.com, followed by the acquisition of the pricing tool Skybox Drive in 2024.
