is stubhub a publicly traded company?

As a result, TV viewers around the globe saw blocks of empty seats at Dodger stadium. That total valuation would likely be much lower if these companies were not publicly traded since becoming a public company is one of the best ways for companies to obtain capital and for investors to build long-term wealth. This longevity alone is proof of their legitimacy and an assurance that you would get the value for your money. This gives them the scale to block out other potential competition. At the same time OVG continues to knit together its Arena Alliance, which presently has 26 venues working together. . If you have ever been in the market for tickets to a sold-out show, then you may have heard of StubHub. Along with a company overview, we will look at their built-in safety for buyers and sellers. The company, which operates like a brokerage but gives agents a suite of digital tools to better market themselves, raised about $450 million through its IPO. StubHub is reportedly considering such a move through a direct listing, which would increase access to liquidity and speed up recovery . [20], In August 2017, Grubhub entered into an agreement to acquire Eat24 from Yelp for $287.5 million, subject to regulatory review. But the million-dollar question remains, will grocery stocks . Timberlakes shares were then worth $15 million. Rival has been backed by great VCs like Andreessen Horowitz. AEG Anshutz Entertainment Group owns the AXS primary ticketing platform, along with teams and arenas around the world. Micron Technology (MU) IBM (IBM) Google (GOOG) John Deere (DE) Salesforce (CRM) Splunk (SPLK) From factory robotics to customer service chatbots, machines armed with complex algorithms processing massive amounts of data are helping companies in nearly every industry achieve explosive growth. They determine which specific seats are sold as Platinum or VIP. Then, they charge up to ten times that of the standard priced seat next to it. 2013 Grubhub and Seamless merge. Is StubHub legit, though? It matters whether its in a stadium, festival field, arena, theater, or club. Bonds are often considered a "safe" investment, but are they right for you? [3][4][5], The original Chicago-based Grubhub was founded in 2004 by Mike Evans and Matt Maloney to create an alternative to paper menus. Customer service all the way to your seat, 2000-2022 StubHub. Content Pit Review: Is it Possible to Find Fast, Inexpensive, and High Quality Content? Thats not only unacceptable, its indicative of a breakdown in their internal processes which may signal to an attentive buyer that their other internal policies and procedures are equally immature. StubHub is a marketing company. Its so difficult to understand that both MIT economists and University of Chicago Booth school professors get it wrong. However, this alone does not make a tech company. Fans buy from and sell tickets to one another. Staffing at StubHub had increased to 350 workers by the time of the sale. Instead, prudence returns in place of profligacy and once more cash is king. Many drivers allegedly work more than 40 hours a week but do not receive overtime rates for their work. On May 5, 1999, Urban One became a publicly traded company. Classic economic theory tells us that supply and demand are elegantly intertwined. It's where consumers from around the world buy tickets to events. As a result, Ticket Liquidator provides the following guarantees to its customers: Vivid Seats is another StubHub competitor that sells tickets to popular events. StubHub Is For Sale: How Much Is The Marketplace Really Worth. Company Overview. Its also impacting Chance the Rappers current ticket availability, which after two days on sale, was approximately every seat in any venue. First, there is the emotional connection between fans and their bands or teams. About us. All tickets are the same, equal to or better than what the buyer requests. [18][19] LAbite, a Los Angelesbased restaurant delivery service, was acquired by Grubhub in May 2016. "[59] In a tweet that was later deleted, Maloney added: "To be clear, Grubhub does not tolerate hate and we are proud of all our employees - even those who voted for Trump. Ticket sellers have the upper hand when it comes to the pricing of their tickets for resale. One reason companies go public is because doing so creates an opportunity for insiders to sell their equity holdings. Learn more about what it means to be a publicly traded company. The easy answer is there is a lot of frothy money out there searching for return. Coachella weekend two did not even sell out last year while their VIP passes for weekend two went below 50% of face value. My opinion is that a drink or food special texted to a specific fan during a concert or sporting event is not transformative. StubHub sounds like the perfect acquisition: $5 billion in sales, $1 billion in gross revenue, on-trend with millennials, and in the very sexy space of delivering tickets for live experiences around the globe. is the value of a publicly listed company. They are currently not a publicly traded company and do not have a stock symbol. You want to go to that major sporting event, the theatre, or a live concert but you missed the boat when it came time to buy tickets. You can't haggle for a lower ticket price on StubHub, but you can search around to see how fair a ticket price is before you buy the ticket. Those two companies have continued to grow, despite facing competition from rising digital payments companies. Founded in 2004, it is a subsidiary of the Dutch company Just Eat Takeaway since 2021. For over 20 years, StubHub has been the leading marketplace for fans to buy and sell tickets. Research prices before you buy. No Subway is not a publicly traded company. The Federal Trade Commission just this year finished an extensive investigation, which included reviewing more than 6,400 public comments. PC Connection, Inc. Ticker Symbol: PCCC. Many events were canceled in light of changing health and safety requirements, but many customers found that they werent able to get their refunds. At the end of their first week as publicly traded shares, Compass stock closed at $21.90, but on Thursday, Dec. 22, the stock closed down at $9.25 per share. [66][67][68][69] The case is filed in the federal U.S. District Court, Southern District of New York as Davitashvili v GrubHub Inc., 20-cv-3000. StubHub is a resale ticket marketplace owned by eBay. This strategy, named Hopium by my friend Sam Sherman who founded Broker Genius, the industry leading ticket repricing software, led to Taylor Swift giving away tens of thousands of seats nightly on her Reputation tour to avoid embarrassment. Making the world smarter, happier, and richer. In preparation of being offered for sale, StubHub raised the sell fees it charges smaller ticket brokers by 50%. Cramer says it could sell for $10 billion. SeatGeek operates a search engine that allows buyers to check multiple sources for tickets to events. Welcome StubHub to your new headquarters address: Chapter 7 or 11. Before you spend a dime on this platform, you need to know what it is going to cost you. Online ticket platform StubHub is considering going public in a direct listing that would value the company at US$13 billion, according to Bloomberg. No. Curiously though, Kijiji eBays Craigslist like venture in Canada just suspended sales of tickets through its platform because of concerns over their ability to safely transfer digital tickets. Voyager Digital is a publicly traded company on Nasdaq using the ticker symbol "VYGVF." If you're looking to invest in the Mavericks, VYGVF is trading at $14.21 as of October 28, 2021. Very few people truly understand its dynamics. [61] Following Maloney's statement, on November 11, 2016, the company's shares dropped 5.93%. "The drivers as a general matter cannot engage in personal non-work activities during their GrubHub shifts," the complaint states, meaning that they essentially function as employees. Portal Banner. Ticketmaster brags that even transferred or resold tickets are 100% verified by its platform, which is a step above simply a "money-back guarantee" if a buyer happens to receive a counterfeit ticket and cannot enter the specific sports game he was vying to attend. Combined with viagogo, we now span 90+ countries around the world. Unlike StubHub, the company screens and vets its sellers to guarantee the safety and security of its buyers. My card was charged immediately. [57][58], On November 10, 2016, after the victory of President Donald Trump in the general election, Grubhub President and CEO Matt Maloney sent a company-wide memo to employees saying that he rejected the "nationalist, anti-immigrant and hateful politics of Donald Trump" and "If you do not agree with this statement then please reply to this email with your resignation because you have no place here.The Washington Times reported that Maloney "unleashed a political screed after the Nov. 8 election and said that those who disagree with its anti-Trump views should resign. [16] Restaurants on the Run, a corporate food delivery company based in Aliso Viejo, California, was acquired by Grubhub in February 2015. Grubhub Inc. is an American online and mobile prepared food ordering and delivery platform. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The market for event tickets is vast, complicated, and always changing. Print. The stocks of a private company are owned and traded by only a few private investors. This platform has been thriving for more than 20 years and they have sold millions of tickets to fans around the world. [30] North American headquarters would remain in Chicago with Grubhub founder, Matt Maloney, joining the board of directors and heading North American operations.[48]. He launched his own consulting firm in 2011. [80] As part of the settlement,[81] GrubHub will be required to add price disclosures to their menu and checkout-pages. The company brings together ticket buyers and sellers and allows them to transact business by using either the company's web site or mobile applications. All tickets are legitimate and valid for entry. Traded on. It maintains a database of tickets for sale, lists of potential buyers, APIs, and a large body of consumer data history. Theater level acts are arriving in arenas, and arena level acts are playing stadiums. We have accomplished this through a combination with Concord Acquisition Corp ("Concord") (NYSE: CND.U), a publicly traded special purpose acquisition company. If want to own a piece of YouTube, you can purchase Alphabet stock. Stock Advisor list price is $199 per year. They invite the general public to subscribe to the company's shares and become shareholders. The potential for quick mobile delivery is definitely one of the biggest draws for StubHub. Why wait to purchase tickets to the next hottest event happening in your area? Venues have a right to know who enters. All customers have the option of receiving their tickets through either adigital e-ticket download, electronic transfer, physical shipping, or local pickup. It took them nearly two months. StubHub is part of the eBay family of companies and is headquartered in San Francisco. Mutual funds give investors exposure to lots of different kinds of investments. The stocks of a public company are traded on stock exchanges. It seems like a longshot for them to be able to convince regulators to go along with them on this one. Before StubHub, the only alternatives when tickets were sold out were the local The plaintiffs in Wallace v. Grubhub claim that the work of these drivers makes them employees rather than independent contractors. So, why wouldnt anyone with access to cash, bank loans or private equity salivate over the opportunity to lead the worlds biggest secondary ticket market into the future? I think not. The company brings together ticket buyers and sellers and allows them to transact business by using either the . Is the ticketing company using Platinum and VIP packages to raise prices of premium seats? StubHub is a safe and secure ticket marketplace. OVG also owns Pollstar and holds the annual Pollstar Live and Production Live conferences in Beverly Hills. Thats why festivals are losing ground, tours are failing to sell out in otherwise dependable venues and more than 1/3 of all tickets for sale on secondary markets are selling below face value. There are also plans to make the company's corporate base 100% zero-waste and to power all new buildings on renewable energy alone. The resulting vertically integrated structure managed our entire . Categories . By: Eric Fuller StubHub is for sale. The fewer people who attend a game, the less urgency there is for others to go. A company's initial public offering of shares effectively converts the private equity holdings of business insiders and investors into publicly traded shares, which those insiders and investors can choose to sell on the open market. Ticket brokers vanish, since they cant earn any money. Also, I think the same risk factors related to future transferability of tickets would preclude any publicly-traded company from . Help us improve this article with your feedback. The chart below shows the 10 largest publicly traded companies in the U.S. Technology companies dominate today's public markets, as the chart above makes clear. However, there are a few things you can do to keep problems to a minimum: For even more options to flip tickets check out our list of Stubhub Alternatives. OpenSea is the largest non-fungible token (NFT) marketplace, offering the ability to buy, sell, create, and trade. Theres a false narrative that millennials will pay almost any amount to go to events. Ashley is an experienced freelance writer with an enthusiasm for finding creative ways to earn money online. Orders are guaranteed to get you entry into an event (no fake tickets). However, YouTube is owned by Alphabet Inc. While StubHub is legit, many users find that their customer service department leaves a lot to be desired. Its an all or nothing result. And, last is the supply of available tickets relative to the demand. It has been a publicly traded company since 2002. Vivid Seats also offers a 100% money-back guarantee if it fails to meet these promises and offersa dedicated, in-house customer service team to its buyers and sellers. Whats the consequence for StubHub if this becomes the global standard? If Vivid took control of StubHub, this combination would have nearly 2/3rd of the current North American resale market. Publicly Traded AI Companies to Watch. They immediately sent me an offer for free guacamole. [44], On May 12, 2020, Uber announced that it was approaching Grubhub with a takeover offer. In addition, like Ticket Liquidator and Razorgator, Vivid Seats makes a customer service pledge to its buying customers. The Dow dropped 800 points today because the inverted interest yield curve signaled a recession. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. Compare that to when I went to Chipotle recently and bought a $7 sofritas salad. StubHub promises sellers on-time payments according to their terms and conditions. We already see the limited transferability arguments being established by lobbyists and corporate public relations teams. [21] In October 2017, Grubhub announced that had it completed its acquisition of Eat24. 1. Grubhub has been criticized for antitrust price manipulation, listing restaurants without permission, and allegedly misclassifying workers. Because of the intrinsic risks of losing supply, distribution or both, a buyer of StubHub has to look at its future revenue stream as having a high risk of coming to an abrupt end. Also, I think the same risk factors related to future transferability of tickets would preclude any publicly-traded company from taking on such a substantial risk. The restaurants themselves must review and audit call logs within the refund window in order to identify and dispute fees erroneously charged to them by Grubhub's algorithm.