SeatGeek is a leading mobile-focused ticketing platform. The company has partnerships with several notable sports teams (including the Dallas Cowboys), sports leagues (e.g., NFL and MLB), and a few Broadway theaters.
The ticket seller is growing quickly thanks to its consumer-focused marketplace, innovative technology, and partnerships. By 2025, over 46 million people had downloaded its app, and its platform had more than 66 million tickets available each day.
SeatGeek is looking to cash in on the growing ticket market by going public via an initial public offering (IPO). Here's everything you need to know about SeatGeek, including how you might be able to get your hands on some pre-IPO shares.
IPO
Publicly traded?
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 it IPO?
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 0.48%) to lead its IPO. Citigroup (C 1.41%) and Wells Fargo (WFC 1.77%) 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.
How to buy
How to buy SeatGeek stock
Since SeatGeek is still a private company, you can't buy shares in a regular brokerage account yet. However, accredited investors (i.e., those with a high net worth or high annual income) can sometimes purchase pre-IPO shares of companies like SeatGeek on a secondary marketplace like Forge Global (FRGE 0.37%), Hiive, and EquityZen.
Unfortunately, non-accredited investors will have to wait for SeatGeek's IPO to buy shares. In the meantime, they could consider investing in a competing platform or another company capitalizing on the live sports and entertainment industry. Here are some alternative options to consider while you're waiting for SeatGeek's IPO:
Live Nation Entertainment
Live Nation Entertainment (LYV 4.55%) is the world's top live entertainment company. It operates three businesses: Ticketmaster (which competes against SeatGeek), Live Nation Concerts, and Live Nation Media and Sponsorship.
Live Nation makes 82% of its revenue from concerts, 13% from ticketing, and 5% from sponsorship and advertising. The company generated $23.2 billion in revenue in 2024 (up 2%) and almost $2.2 billion in adjusted operating income (a 14% increase).
Vivid Seats
Vivid Seats (SEAT -6.86%) accomplished what SeatGeek attempted in 2021 by going public via a SPAC deal. The company closed its business combination with Horizon Acquisition Corporation in October 2021 in a deal valuing the ticketing company at almost $2 billion.
Vivid Seats generated $775.6 million in revenue in 2024 (up 9%) and was profitable ($14.3 million of net income, though that was down 87% from 2023). The company has expanded its market opportunity through acquisitions in 2023, including Vegas.com and Wavedash.
Madison Square Garden Sports
Madison Square Garden Sports (MSGS 0.19%) owns two professional sports teams (the New York Knicks and the New York Rangers), two development league teams (Westchester Knicks and Hartford Wolf Pack), and a state-of-the-art performance training center (Madison Square Garden Training Center).
Through the first nine months of its 2025 fiscal year, Madison Square Garden Sports generated more than $835 million in revenue and almost $100 million in operating income. Investors who want to invest in one of these SeatGeek alternatives can buy shares in any brokerage account. Here's a step-by-step guide on how to invest in stocks.
- Open your brokerage app: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
Profitability
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?
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.
ETF options
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.
Related investing topics
The bottom line on SeatGeek
SeatGeek has grown into one of the most popular ticket sellers. That's driving strong revenue growth, which the company eventually wants to cash in on via an IPO. SeatGeek could become a winning investment if sales continue to surge and profitability follows.
FAQ
Investing in SeatGeek FAQ
Does SeatGeek have stock?
As of mid-2025, SeatGeek didn't have a publicly traded stock. The ticket seller was still a private company owned by venture capital funds and other investors. However, it plans to eventually go public.
Is SeatGeek publicly traded?
SeatGeek isn't a publicly traded company as of mid-2025. It was a private company owned by venture capital funds and other investors. However, it plans to eventually complete an IPO.
Is SeatGeek profitable?
There wasn't any publicly available information on SeatGeek's profitability in mid-2025. The privately held company doesn't need to report its financial information publicly. However, with an IPO likely coming in the future, it will need to start publicly reporting its financial results.
How much is SeatGeek worth?
SeatGeek had agreed to go public via a SPAC deal in 2021 at a $1.35 billion valuation. However, that deal fell through the following year due to challenging market conditions. That led the company to tap private market investors for capital. It raised $238 million at a $1 billion valuation.
The company reportedly wants a value above the $1.35 billion it agreed upon to go public in 2021. This suggests SeatGeek was worth more than $1.4 billion in mid-2025.
