The 15-year-old tech company, which had yet to seek a formal round of funding, joins a host of former Chicago bootstrappers that have received funding in recent years. Chicago tech staples like
Vivid Seats can now be added to that list, leaving
According to Vivid Seats co-founder Eric Vassilatos, the funding represents an opportunity to usher Vivid Seats into the “next level,” allthewhile maintaining a steadfast grasp on the company’s original mission.
“Since starting the company in 2001, we have never lost sight of our mission to give fans the safest, most affordable, and all-around best ticket purchasing experience in the industry, start-to-finish,” said Eric Vassilatos, co-founder of Vivid Seats in a statement. “We are very pleased to be partnering with Vista, who not only shares our vision but can also provide the necessary resources to take Vivid Seats to the next level.”
The full-service secondary marketplace for sports, concerts, and theatre tickets is one of the largest employers of tech workers in Chicago. As of October, the company boasted a headcount of about 350 people. While the press release didn’t expressly say funding will be used for hiring, it did say funds will be used to “accelerate growth” as it continues to develop its online platform and mobile apps.
At the rate Vivid Seats has been expanding over the past couple of years (in 2014, they reported 400 percent growth in employee size since 2011), it’s fair to question how much faster they can even still go.
But co-founder Jerry Bednyak isn’t fazed by plans to kick it into, well, higher gear — he’s excited.
“This a very exciting time as we look to kick off a new and unprecedented phase of growth for Vivid Seats,” Bednyak said in the statement. “This strategic partnership with Vista will enable us to strengthen our core offerings and pursue new opportunities, all while continuing to deliver the best service experience in the industry.”
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