Vivid Seats LLC is an independently owned and operated online ticket reseller.
The privately held company does not disclose financial information. In 2017 it was reported to have a turnover of $1 billion and to be the third-largest online ticket reseller.
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History
Vivid Seats was founded in Chicago, Illinois, in 2001 by Jerry Bednyak and Eric Vassilatos.
Vivid Seats has been invested in by two private equity companies, Vista Equity Partners in 2016 and GTCR in 2017. GTCR bought a majority stake.
Operations
Vivid Seats is a middleman between ticket buyers and sellers, taking a 10% commission once tickets have sold and additionally charging buyers service fees and shipping charges. In 2013, Vivid Seats began supplying ticketing information via Google Now.
Partnerships
In February 2017, ESPN made Vivid Seats its official ticket provider, replacing StubHub.
In April 2017, Time Inc. made Vivid Seats the official ticket provider for Sports Illustrated Group.
Expansion
In 2014, Vivid Seats moved its corporate headquarters to Chicago's West Loop while also retaining office space for its operations team nearby to accommodate new employees, 100 having been hired in the last year.
Source of the article : Wikipedia
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