SeatGeek raises another $238 million, is now valued at $1Bn


Ticketing platform SeatGeek was planning to go public via a SPAC, but this once-buzzy alternative to a traditional IPO has fallen out of favour amidst a market slowdown, and the company has instead raised nearly a quarter of a billion dollars in a series E funding round. Over $400m has now been raised by the company, which now has a valuation of $1bn.

The money will be invested in a number of fan-facing initiatives, such as, the Wall Street Journal reports, options for buyers to return their tickets and get credit towards new ones, and the ability for ticketholders to buy event experience-upgrades. SeatGeek’s Net revenue in 2021 was $186.3m, up from $142.2m in the pre-pandemic year of 2019.

Ticketing is an increasingly crowded market of big players, and companies are looking to user-facing differentiation to find an edge. Stakes are high, but so are the margins, if companies can get this relationship right – in a space where fans are often vocal about ticket-buying experiences, as Bruce Springsteen recently found out.

Written by: Joe Sparrow