Posted on: November 7, 2023, 03:41h.
Last updated on: November 7, 2023, 03:42h.
Vivid Seats has acquired Vegas.com, marking a significant move in the online ticket marketplace. The integration is set to increase Vivid’s total addressable market (TAM) by over $6 billion.
Vivid Seats CEO Stan Chia expressed his excitement, stating, “It has never been more clear that demand for live events is strong and that we are capturing that strength at Vivid Seats.” This strategic acquisition is expected to position Vivid Seats as a dominant player in the event tickets market in Las Vegas, significantly competing with Ticketmaster and StubHub.
Vegas.com offers a variety of tickets to shows, attractions, and tours in Las Vegas, alongside flight and hotel booking options. Vivid Seats also recently acquired the Japanese online ticket marketplace Wavedash, continuing to expand its market presence.
Founded in 2001 by Jerry Bednyak and Eric Vassilatos, two private equity companies, Vista Equity Partners and GTCR, have since invested in Vivid Seats, with a current market cap or net worth of $1.22 billion as of Nov. 3, 2023.