On-line secondary ticket market Vivid Seats is looking out for a purchaser they normally’re hoping to fetch a value of about $1.5 billion, TechCrunch has realized.
In accordance with various sources, private equity company Vista Equity Companions is working with Morgan Stanley to unload Vivid, which could web a tidy income for the company barely over a 12 months after shopping for the enterprise for about $850 million.
Vivid Seats will not have the equivalent determine recognition as Ticketmaster or StubHub, nonetheless the Chicago-based company has been a drive in selling seats at live performance occasions, theaters and sports activities actions events. Primarily based in 2001, the company had grown to alter into the third-largest secondary ticket vendor inside the U.S. by the purpose it received its strategic investment from Vista early ultimate 12 months.
In accordance with one provide, tech corporations like Amazon and Priceline had taken a check out Vivid Seats nonetheless decided to not buy it. We moreover heard that eBay-owned StubHub simply is not .
Earlier this month, Bloomberg reported on its terminal that Vista was considering a sale “after receiving inbound interest,” nonetheless did not provide further aspect.
One drawback for Vivid is that it’s going to get a giant portion of its website guests from misleading affiliate web sites. Prospects are usually lured to a trip spot that’s not likely associated to the group or artist, a controversial apply all through the enterprise.
It’s potential that Vivid Seats will not be going to find a applicable strategic purchaser and may promote to a distinct private equity company. One provide talked about Carlyle Group, nonetheless a definite provide steered that could be unlikely because of they private PrimeSport, a competitor inside the home.
If Vivid can’t fetch its desired acquisition value, possibly Vista will maintain it in its portfolio until it grows its value.
When requested for comment, Vivid said “we don’t comment on industry rumors.”
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