Vivid Seats Completes Acquisition of Wavedash
September 08 2023 - 7:00AM
Vivid Seats Inc. (NASDAQ: SEAT) (“Vivid Seats”), a leading
marketplace that utilizes its technology platform to connect
millions of buyers with thousands of ticket sellers across hundreds
of thousands of events each year, today announced that it has
completed the acquisition of WD Holdings Co., Ltd. (“Wavedash”) in
an all-cash transaction. Wavedash is an online secondary ticket
marketplace in Japan with a market-leading position and accretive
Adjusted EBITDA margins.
“Today marks the beginning of a thrilling international journey
for Vivid Seats,” said Stan Chia, Vivid Seats CEO. “International
markets collectively represent a compelling growth opportunity as
concerts grow in popularity worldwide and as international
secondary ticketing continues to develop. We are excited to
leverage learnings from Wavedash as we contemplate additional
opportunities to drive profitable growth in the long-term.”
The effect of approximately four months of contribution from
Wavedash was contemplated in Vivid Seats’ financial guidance
provided on August 8. Wavedash will be included within the
Marketplace segment.
About Vivid Seats
Founded in 2001, Vivid Seats is a leading online ticket
marketplace committed to becoming the ultimate partner for
connecting fans to the live events, artists and teams they love.
Based on the belief that everyone should “Experience It Live,” the
Chicago-based company provides exceptional value by providing one
of the widest selections of events and tickets in North America and
an industry leading Vivid Seats Rewards program where all fans can
earn on every purchase. Vivid Seats has been chosen as the official
ticketing partner by some of the biggest brands in the
entertainment industry including ESPN, Rolling Stone and the Los
Angeles Clippers. Vivid Seats also owns Vivid Picks, a daily
fantasy sports app. Through its proprietary software and unique
technology, Vivid Seats drives the consumer and business ecosystem
for live event ticketing and enables the power of shared
experiences to unite people. Vivid Seats has been recognized by
Newsweek as one of America’s Best Companies for Customer Service in
ticketing. Fans who want to have the best live experiences can
start by downloading the Vivid Seats mobile app, going to
vividseats.com, or calling 866-848-8499. Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. The forward-looking
statements in this press release relate to, without limitation, the
anticipated benefits of the transaction and the operation of the
companies following the transaction. Words such as “expect,”
“anticipate,” “target,” “goal,” “project,” “intend,” “plan,”
“believe,” “seek,” “estimate,” “will,” “likely,” “may,” “designed,”
“would,” “future,” “can” and “could,” as well as similar
expressions which predict or indicate future events and trends or
which do not relate to historical matters, are intended to identify
such forward-looking statements. Forward-looking statements are not
guarantees of future performance, conditions or results, and are
subject to risks, uncertainties and assumptions, many of which are
outside of Vivid Seats’ control. Important factors that could cause
actual results or outcomes to differ materially from those
anticipated in the forward-looking statements include, but are not
limited to, those detailed in Vivid Seats’ most recent Annual
Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and
other filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date of this press
release. Vivid Seats undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Contacts:
InvestorsKate
AfrickKate.Africk@vividseats.com
MediaJulia
YoungJulia.Young@vividseats.com
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