How to Invest in SeatGeek Pre-IPO

Is SeatGeek publicly traded?

As of mid-2025, SeatGeek wasn't a publicly traded company. It's still a private company owned by several notable venture capital firms, co-founders, and other investors. Notable investors in SeatGeek include former pro football stars Eli and Peyton Manning.

The company attempted to go public in 2021, striking a deal with RedBall Acquisition Corp., a special purpose acquisition company (SPAC) led by Oakland A's executive Billy Beane (of Moneyball fame) and Phoenix Suns star Kevin Durant. However, that deal fell apart a year later due to volatile market conditions.

When will SeatGeek IPO?

SeatGeek appears to be preparing to put its IPO on the calendar. The ticket seller is working with investment bank Morgan Stanley (MS -0.70%) to lead its IPO. Citigroup (C -1.98%) and Wells Fargo (WFC -1.04%) were also added to its IPO team.

Bloomberg reported in June 2024 that SeatGeek could go public by the end of the year. It was seeking a valuation above the $1.35 billion it agreed to in 2021 when it almost went public via a SPAC deal that fell through in 2022.

However, it had yet to complete its IPO by mid-2025. It might wait until rival StubHub goes public. In March 2025, StubHub filed to go public on the New York Stock Exchange under the ticker STUB. If its IPO is successful, SeatGeek could follow it with an IPO of its own.

Is SeatGeek profitable?

Since SeatGeek is still a private company, it doesn't need to publicly report its financial results. So, there is minimal publicly available information about the company's finances in mid-2025.

According to a report by The Information in 2023, SeatGeek expected to generate more than $500 million in revenue that year. That was significantly more than it made in 2021 ($186.3 million), the last time it publicly reported financial information due to its SPAC deal with RedBall.

We do know that the company wasn't profitable in 2021. It reported a net loss of $80 million. While that was an improvement from 2020, when it lost $96.9 million due to the COVID-19 pandemic's impact on the ticketing industry, it was still much higher than it posted in 2019 ($45 million).

Given the company's revenue growth since then, it may be profitable or on track to start making money. Investors interested in buying shares at SeatGeek's IPO should check out its prospectus when it becomes available to determine whether the company is profitable or at least posting smaller losses.

Should I invest in SeatGeek?

Because SeatGeek isn't public yet, you have plenty of time to decide whether to invest in the company. Here are some reasons you might want to buy shares of the ticket seller when it goes public:

• You're a big fan of the company and routinely use its services to buy tickets.
• You think demand for live entertainment will continue rising, which should enable SeatGeek to grow its sales briskly.
• You believe the company will deliver strong profit growth in the future.
• You want to invest in founder-led companies.
• You understand the risks of investing in an IPO stock, including that they can be very volatile and lose money.

On the other hand, here are some reasons SeatGeek might not be the right choice for you:

• You prefer to get your tickets through a rival seller.
• You're concerned about growing competition in the ticketing market.
• You're unsure whether SeatGeek can grow its profits at a healthy rate in the future.
• You're worried about the impact a recession could have on the company's financial performance.

ETFs with exposure to SeatGeek

You can't currently use exchange-traded funds (ETFs) to gain passive exposure to SeatGeek. However, you can use them to invest in the same trends driving its growth. Here are a couple of ETFs focused on the entertainment sector and consumer spending that you could consider while awaiting its IPO:

• Invesco Leisure and Entertainment ETF (NYSEMKT:PEJ): This ETF focuses on companies in the leisure and entertainment industry. In mid-2025, it held 31 stocks, including Madison Square Garden Sports (2.8% of its holdings). The fund had a 0.58% ETF expense ratio.
• Consumer Discretionary Select Sector SPDR Fund (NYSEMKT:XLY): This fund focuses on consumer discretionary stocks within the S&P 500 index. In mid-2025, it had 51 holdings, 26.8% of which were in the hotels, restaurants, and leisure sectors. The ETF has a 0.08% expense ratio.

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