New York-based event ticketing startup SeatGeek confidentially filed for an IPO this month with the SEC.
The firm intends to list on the public exchange once the market
conditions improve. It is unclear when the business will list, and the
filing does not guarantee it will do so this year.
- The
firm, which sells event and concert tickets on its platform, expects to
rake in $500M in revenue this year, more than triple its revenue from
2021.
- Last year, SeatGeek backed out of its $1.35B SPAC merger with Billy Beane's blank check entity RedBall Acquisition Corp. due to volatile market conditions.
- After the SPAC listing failed, SeatGeek raised $238M in Series E funding led by Accel at a $1B pre-money valuation.
- In the SEC filing for its SPAC merger withdrawal, the company noted that it expects to be profitable by 2024.
- To date, the firm has raised $400M
in venture funding from investors such as Wellington Management,
Technology Crossover Ventures, Founders Collective, and Glynn Capital
Management.
