Vivid Seats

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Vivid Seats
Private
Industry Ticket resale
Founded 2001
Founders Jerry Bednyak and Eric Vassilatos
Headquarters Chicago, Illinois, United States
Area served
 Worldwide
Products Tickets for live sports, concert, theater events
Website www.vividseats.com

Vivid Seats is an independently owned and operated online secondary ticket resale marketplace for fans looking to buy and sell tickets to live concert, sport, and theater events worldwide. The company was founded in 2001 by former college roommates Jerry Bednyak and Eric Vassilatos and is currently headquartered in Chicago, Illinois.[1]

History

Vivid Seats was founded in Chicago, Illinois, in 2001 by Jerry Bednyak and Eric Vassilatos, who met in college at the University of Iowa where they were roommates.[2] According to the Crain’s Chicago Business Fast Fifty list in 2012,[3] No. 8 Vivid Seats’ revenue in 2011 was $65 million and at the time, the company also had experienced 1,000% revenue growth since 2006.

Operations

Like major competitors StubHub, eBay, SeatGeek, and TicketsNow, Vivid Seats serves as the intermediary between buyers and sellers for sports, concert, and theater events held worldwide.[4] Fans selling tickets at Vivid Seats can do so free of charge but will incur a 10% commission fee collected once the tickets have sold.[5]

For buyers, service fees vary per order, while shipping charges will reflect the type of delivery method selected (FedEx, instant download, email, special delivery, pick up, will call).[6] All confirmed orders are covered under the Vivid Seats 100% Buyer Guarantee.[7]

Expansion

In May 2014, it was announced that Vivid Seats would be expanding and moving its corporate headquarters to Chicago’s West Loop while also retaining office space for its operations team on the city’s Near West Side Chicago.[8] Built in Chicago reported that the company’s employee base has risen 400 percent since 2011.[9] The corporate headquarters at 111 N. Canal St. also was chosen as the Chicago home for other tech companies like Twitter, Uber, and Gogo Inflight Internet.[10]

Additional Services

Vivid Seats opened up its marketplace to fan sellers in 2008 via its “Sell Your Seats” program. Fans can list their tickets for free but are charged a 10% commission for all tickets sold through the site.[11]

In May 2013, Vivid Seats announced that its event ticketing information would be available through integration with Google Now.[12] Later in 2013, Vivid Seats unveiled its first rewards program, Vivid Values.[13] In 2014, Vivid Seats introduced SkyBox, a cloud-based ticket resale platform for professional sellers,[14] in addition to its White Label Program for online marketers and ticketing site owners.[15]

Reputation

Vivid Seats is a member of the National Association of Ticket Brokers[16] and is a Better Business Bureau Accredited Business since 2003.[17] In a 2014 breakdown of Vivid Seats by LegitTicketReviews.com, the company was found to be an excellent online ticket provider overall, with the reviewer noting that the only negative aspect to Vivid Seats is its inability to guarantee exact seat locations.[18]

Partnerships

Vivid Seats has predominantly added professional and collegiate sports partnerships, with the exception of various news entities within the Tribune Media Company. Past and present Vivid Seats partners include the Big Ten Conference,[19] USA Today,[20] International Champions Cup,[21] Chicago Bears,[22] Miami Dolphins,[23] Rose Bowl Stadium,[24] Kansas State,[25] Georgetown University,[26] Texas Tech,[27] Denver Broncos,[28] and the West Coast Conference.[29]

As of Sept. 2014, the full list of Vivid Seats partners includes:[30]

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Recognition

  • Co-founder Jerry Bednyak was named in the 2014 TechWeek Chicago 100 List[31]
  • T-No. 47 on the 2013 Top 100 Digital Companies in Chicago presented by Built in Chicago[32]
  • No. 8 on the 2012 Crain’s Chicago Business Fast Fifty List[33]

In the Media

The Chicago Bears’ selection of Vivid Seats as its official fan packages partner for the 2014 season was regarded by Chicago Inno,[34] Crain’s Chicago Business,[35] and Built in Chicago[36] for the organization’s decision to support a local brand.

A 2013 USA Today feature regarding how to get tickets for big events included tips and strategies from Vivid Seats for the average ticket buyer.[37]

Ticket pricing data from Vivid Seats has been cited in stories by news outlets like Fox Sports,[38] Forbes,[39] CNBC,[40] Yahoo! Sports,[41] and Deadspin.[42]

External links

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References

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