Online sports and entertainment ticketing marketplace SeatGeek entered into an agreement last week to go public via a SPAC merger with RedBall Acquisition Corp (RBAC). The deal would value SeatGeek at an estimated $1.4b.
SeatGeek was founded by Russell D’Souza and Jack Groetzinger and was incubated by DreamIT Ventures before being launched in 2009. It went on to raise millions of dollars in funding and in 2016 landed a deal with Major League Soccer to create a platform for third-party websites to sell tickets to MLS games. The following year, SeatGeek broke into the NBA and NFL through partnerships with the New Orleans Pelicans and the New Orleans Saints.
Today, SeatGeek is an official partner with some of the most recognized teams, leagues, and entertainment venues in the world like the Dallas Cowboys, the English Premier League, and New York City’s Broadway. Personally, we’re hoping to catch more in-person events given lockdowns are being a thing of the past — so we’re all for this deal!
why it matters
Seems like SeatGeek picked an experienced partner with a winning record in RedBall, which brings extensive integration in the sports and entertainment ticketing industry.