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You are here: Home / Business / Ticket Marketplace Announces Acquisition of Vegas.com Travel Company for $240M

Ticket Marketplace Announces Acquisition of Vegas.com Travel Company for $240M

November 9, 2023 By John Colascione Leave a Comment

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VEGAS.com is a destination-specific online travel agency founded in 1998 and headquartered in Las Vegas, Nevada. File photo: Randy Andy, Shutter Stock, licensed.
VEGAS.com is a destination-specific online travel agency founded in 1998 and headquartered in Las Vegas, Nevada. File photo: Randy Andy, Shutter Stock, licensed.

CHICAGO, IL – Vivid Seats Inc., a ticket exchange and resale company, announced during an earnings call with investors on Tuesday the acquisition of the Vegas.com internet domain in a cash and stock transaction valued at approximately $240 million. 

In a press release, Vivid noted that the Vegas.com domain provides the “most comprehensive event inventory of shows, attractions, and tours in Las Vegas, one of the world’s most desirable destinations for leisure and business travel. Vegas.com also offers an end-to-end travel shopping experience complete with flights and hotels.” 

Calling Vegas.com “the leading entertainment marketplace for consumers exploring Las Vegas,” Stan Chia, CEO of the Chicago-based Vivid, said that the acquisition of the domain – along with a series of additional investments at the company has recently made – goes hand-in-hand with the company’s mission to continue to increase their evolution, growth, and value. 

We are thrilled to announce the acquisition of this strategic asset that will enhance our scale and reach in the entertainment capital of the U.S. and beyond,” he said. “This transaction will increase our scale and reach in this key market, bring incremental unique inventory through strategic partnerships and offer long-term synergistic upside, while increasing our TAM (total addressable market) by over $6 billion. As we continue to expand our reach and capabilities as a leading global marketplace, we are pleased that our strong balance sheet and robust cash flow are enabling multiple strategic investments.” 

In addition to Vegas.com, in August of this year Vivid also acquired Wavedash – an online ticket marketplace headquartered in Tokyo, Japan – in an all-cash deal valued at about $61 million. 

$SEAT has acquired https://t.co/p2t5mpmP7i for $240 million. CEO Stan Chia joins Yahoo Finance to discuss the deal and why the ticket resale company is better positioned than ever: @Nasdaq pic.twitter.com/3SfRoZCHUm

— Yahoo Finance (@YahooFinance) November 8, 2023

The sale of Vegas.com was made up of approximately $151.2 million in cash and $88.8 million in shares of Vivid Seats’ Class A common stock, reports say. 

Vegas. Com is a 25yr old business that was sold for $15.5million in 2015 and resold for $240million. It has 437.2k backlinks and actual employees .
The narrative that a domain name sold for $240million is not true!
A business with a great name did ? pic.twitter.com/Pzr9t1RcYf

— Ishmilly (@ishmilly) November 8, 2023

Vivid Seats was founded in Chicago, Illinois, in 2001 by Jerry Bednyak and Eric Vassilatos, and later went public in October 2021. Vivid essentially acts as a middleman between ticket buyers and sellers, taking a small commission fee in addition to service and shipping charges from ticket sale transactions. 

John Colascione 2024
John Colascione

About The Author: John Colascione is Chief Executive Officer of Internet Marketing Services Inc. He specializes in Website Monetization, is a Google AdWords Certified Professional, authored a ‘how to’ book called ”Mastering Your Website‘, and is a key player in several Internet related businesses through his search engine strategy brand Searchen Networks®

Filed Under: Business, Domain Names Tagged With: Acquisition, Asset, Attractions, Cash, Chicago, Commission, Common Stock, Destinations, Domain, Entertainment, Event, Exchange, Flights, Global, Hotels, Illinois, Investors, Japan, Las Vegas, Leisure, Marketplace, Middleman, Press Release, Shows, Stock, Strategic, Ticket, Ticket Buyers, Ticket Exchange, Ticket Sales, Ticket Sellers, Tokyo, Tours, Travel, Vegas, Vegas.com, Vivid, Vivid Seats

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John Colascione is Chief Executive of Internet Marketing Services Inc. He specializes in Website Monetization, authored a book called Mastering Your Website, and is a key player in several Internet businesses through his brand SEARCHEN®

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