Ticket-seller SeatGeek, Inc. has added banks Citigroup Inc. C and Wells Fargo & Co. WFC to the lineup for its planned initial public offering (IPO) led by Morgan Stanley.
The Details:
According to a Bloomberg report, SeatGeek is targeting a valuation in an IPO that is greater than the $1.35 billion figure it agreed to in a 2021 deal to go public via special purpose acquisition company (SPAC). The SPAC deal was ultimately dissolved a year later. The report indicates an IPO could take place toward the end of 2024.
People familiar with the matter reportedly said SeatGeek hasn’t made a final decision and details of the planned public debut could still change. Bloomberg previously reported that SeatGeek could go public as soon as this quarter.
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SeatGeek offers a mobile-focused ticket platform and search engine that lets fans buy and sell tickets for live events. According to the company's website, SeatGeek has more than 47 million tickets available daily and more than 33 million all-time downloads of its app. SeatGeek was launched by Jack Groetzinger and Russell D'Souza in 2009 and is headquartered in New York.
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