is stubhub a publicly traded company?

Lets analyze who might want to buy StubHub: Live Nationis the most obvious candidate. In the U.S. its competitors include Uber Eats, DoorDash, Postmates, and EatStreet. And since the March 9, 2009, low, investors have made $37 . So, in preparation for being a standalone company, the first step StubHub took was to alienate a large portion of the suppliers providing them inventory. On the contrary, the message of the email is that we do not tolerate discriminatory activity or hateful commentary in the workplace and that we will stand up for our employees. Second is the amount of their discretionary spending money, FOMO and Instagram inspired urgency to be where everyone else is going. The company is based in Chicago, Illinois. All Rights Reserved. If you have ever been in the market for tickets to a sold-out show, then you may have heard of StubHub. However, following up on this can be a challenge. . She spends most of her time blogging for a multitude of websites and consuming everything she can get her hands on in relation to personal finance and side hustles. Read on to learn more! August 15, 2019 They have the most to lose depending on who buys StubHub. StubHub canceled both deals within two hours of my purchase because the seller complained the price posted was an error. See the largest publicly traded companies. Quite possibly its worth zero. In addition to defensive buying, the company advises clients on patent acquisition, provides market research and even litigation . They all have reasons to enter the ticketing business. The stocks of a public company are traded on stock exchanges. How To Invest In A Fast Food Giant. It maintains a database of tickets for sale, lists of potential buyers, APIs, and a large body of consumer data history. Ashley is an experienced freelance writer with an enthusiasm for finding creative ways to earn money online. Its also impacting Chance the Rappers current ticket availability, which after two days on sale, was approximately every seat in any venue. The easy answer is there is a lot of frothy money out there searching for return. Buy StubHub when control of the ticket itself lies in the hands of a very tenacious competitor? Razorgator was founded in 2001 and offers tickets to concerts, sporting events, theater productions, and more. 2012 Grubhub debuts in-restaurant technology platform to streamline order taking. Vivids new CEO Stanley Chia came from GrubHub, which was just in the news for creating more than 20,000 white label restaurant web addresses. You can even buy Super Bowl tickets through StubHub. At the same time OVG continues to knit together its Arena Alliance, which presently has 26 venues working together. Like I mentioned above, since Subway's owned by a private company (Doctor's Associates . A link has been emailed to you - check your inbox. It will not only make ChargePoint public, but also should provide $493 million in net proceeds. Four years later in June 2009, MySpace was dumped onto a group including Justin Timberlake for $35 million. Thats already happening on platforms in Europe. Fifteen years later his new company Viagogo paid $4 billion to buy it backjust weeks before coronavirus utterly destroyed the business. StubHub is a legit organization that employs more than 12,000 people who are all there to ensure that tickets get bought and sold in a timely manner. Meanwhile, sellers incur a 15 percent fee for using StubHub. Cramer says it could sell for $10 billion. As the third-largest online ticket reseller, Vivid Seats ensures that it conducts transactions anonymously and never passes on the buyer's information to the seller. SeatGeek offers customers the use of itswebsite andmobile application. How Kevin Meng Makes $3k/Month Teaching Affiliates How to Write High-Converting Content, The 7 Best Ad Copy Generator Tools to Maximize Your ROI, 7 Of The Best Copywriter Websites To Help Guide You Towards Success, The 10 Best Survey Sites For Making Easy Money Anywhere, 7 Sources of Funding for Businesses & Tips For Choosing Your Best Option. AEG and OVGare both more viable contenders. [70][66][67][68][69] Although a number of preliminary documents in the case have now been filed, a trial date has not yet been set. If you were thinking about reselling concert tickets on StubHub as a side hustle, you might want to rethink that idea. Vivid just bought the Canadian resale marketplace FanXchange. Alphabet trades on the Nasdaq under the symbol GOOG. Almost every festival this year has sold below face value on the secondary markets. Is StubHub legit, though? Investopedia does not include all offers available in the marketplace. All customers have the option of receiving their tickets through either adigital e-ticket download, electronic transfer, physical shipping, or local pickup. Yes Also, I think the same risk factors related to future transferability of tickets would preclude any publicly-traded company from . When prices get too high, supply moves into the market, and prices fall. European Politicians Call For Investigation Of Ticketmaster, Live Nation Argues Taylor Swift Lawsuits Must Be Arbitrated, KISS Announce Final Shows on End of the Road Tour, Event Ticketing Resources For Secondary and Primary. Seamless spun-off as a separate company to Aramark's shareholders. Many people report that their customer service representatives dont seem to care if something goes awry during the ticket-buying process. [24] The acquisition of LevelUp was for a reported $390 million cash. Discounts typically appear when prices collapse in the last hour or so before curtain time. female lovebird attacking male; job title with slash; . StubHub works within the regulatory framework of the countries where it operates. ", "GrubHub Inc. Common Stock (GRUB) Real-Time Stock Quote - NASDAQ.com", "GrubHub is buying up thousands of restaurant web addresses. Now, the New York Yankees have tickets on Groupon for as little as $3. In 2015 JT reportedly sold all his shares to a fan for one dollar. You dont have to worry about someone running a ticket-selling business out of their garage. "[59][60], After a Twitter boycott campaign was initiated, Maloney later claimed his words were "misconstrued", adding "I want to clarify that I did not ask for anyone to resign if they voted for Trump. Bonds are often considered a "safe" investment, but are they right for you? Biden Targets Excessive Credit Card Late Fees, How eBay Makes Money: Seller Transactions and Marketing Services, A Guide to Reselling Toys at the Holidays for Extra Money. The company has been selling tickets for nearly two decades and claims to sell the largest selection of guaranteed tickets across the web. Still, it was unable to complete its platform in time to meet the contracted August 1, 2019 take over date for ticketing on behalf of Kroenke Sports and Entertainment. Now that you know StubHub is legit, you might still be wondering what kind of guarantees are offered when it comes to buying and selling tickets. Customers are protected by guarantees of validity and the company is an official partner of several major sports organisations around the world. As a result, Ticket Liquidator provides the following guarantees to its customers: Vivid Seats is another StubHub competitor that sells tickets to popular events. Where to download the StubHub app. It is a great way to put your mind at ease before your first transaction on the ticket marketplace (and you may also be curious to see if Vivid Seats is legit). If you are selling lots of tickets or plan to attend several events, make sure you do the math on how much money you are spending in fees for the convenience of using StubHubs listings. is stubhub a publicly traded company? That pooled energy creates a high, which is what draws people, again and again, to buy tickets, stand in lines and be part of something bigger than themselves and a screen. As a result, TV viewers around the globe saw blocks of empty seats at Dodger stadium. StubHub is the largest ticket marketplace in the world, based on sales, and the Official Fan to Fan Ticket Marketplace for UNItix. First, it would undoubtedly trigger litigation to define the third rail issue of whether a ticket to an event is the property of the holder or a license issued by the act or team subject to whatever restrictions they may choose to implement. Big home-buying companies like Opendoor lightly renovate and resell properties for profit. The company then changed its name from SeamlessWeb to Seamless. They're in 100 countries all over the world. During its time as a standalone company, it traded on the New York Stock Exchange (NYSE) under the ticker symbol "GRUB". Also, unlike StubHub, Ticket Liquidator only accepts sellers who it carefully vets and considers qualified and trustworthy. Credit: Getty Images. It also promises that tickets are the same, equal to or better than what the customer ordered. The commercial shows several people dancing after ordering food from Grubhub, set to "Soy Yo" by the Colombian pop band Bomba Estereo. All tickets are delivered prior to the event, and if an event is permanently canceled, buyers receive a refund. If you're just getting started investing, these basics can help guide you. Fans fall into two distinct camps. 21,000 to be exact. [21] In October 2017, Grubhub announced that had it completed its acquisition of Eat24. [29], On June 9, 2020, Netherlands based Just Eat Takeaway announced an agreement to buy Grubhub for $7.3 billion in stock. Compare that to when I went to Chipotle recently and bought a $7 sofritas salad. 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. On the secondary resale market, StubHub has been a trusted platform since the company's formation in 2000. The other way to kill demand is to price every ticket to capture the highest possible price someone may have once paid. OVG also owns Pollstar and holds the annual Pollstar Live and Production Live conferences in Beverly Hills. Viagogo snaps up ticketing rival StubHub for US$4bn. A public company is one that issues shares that are publicly traded, meaning the shares are available for anyone to buy on the open market and can be sold, usually very easily. Top 3 tips for buying tickets safely on StubHub. Some users report that it was a real hassle to receive their tickets in the mail. The more nuanced and complicated answer is that the ticket business is easy to get into and hard to make work. Broderick and Carmen filed the lawsuit on behalf of themselves and all others in a similar situation and the case is ongoing. A buyer could impact Live Nations own resale markets around the world or could use the consumer base that StubHub has to begin competing in the primary ticketing market. Two quick notes: first, 50 years ago on the day of the Apollo 11 moon landing, fans going to Yankee Stadium received a giveaway which was full-sized wooden baseball bats. Given these issues, I think Vivid may give serious consideration to making an offer, but ultimately theyll figure out the scrutiny this would bring upon them and the risk of the deal failing outweighs any potential accretive benefit. It took them nearly two months. Ticketmaster UKs resale site banner says:Resale tickets are sold by fans at the price they paid (face value + fees), or less. We have accomplished this through a combination with Concord Acquisition Corp ("Concord") (NYSE: CND.U), a publicly traded special purpose acquisition company. LIVE UPDATES: Twitter Goes Public. a is stubhub a publicly traded company? Known as FanProtect, buyers receive the following benefits: Sellers also receive some benefits from this FanProtect Guarantee. Classic economic theory tells us that supply and demand are elegantly intertwined. Wallace and Bryant argue that drivers work on scheduled shifts, and must work in a certain area. [8] In March 2009, Grubhub earned $2 million in Series B funding, led by Origin Ventures and Leo Capital,[9] which was followed by $11 million in Series C funding, led by Benchmark Capital in November 2010. PC Connection, Inc. Ticker Symbol: PCCC. Online ticket platform StubHub is considering going public in a direct listing that would value the company at US$13 billion, according to Bloomberg. They are a trusted household name when it comes to buying and selling tickets to just about any type of event. Shareholders are able to diversify their investment portfolios, due to the increased marketability of their shares. Returns as of 03/04/2023. OVG Oak View Group is run by former AEG President and CEO Tim Leiweke and former Ticketmaster CEO Irving Azoff. Theres a false narrative that millennials will pay almost any amount to go to events. On June 10, 2021, Just Eat Takeaway took operations of Grubhub as Grubhub stockholders approved Transaction with Just Eat Takeaway. Sellers have the option to sell any type of ticket to their customers on StubHub. In addition, like Ticket Liquidator and Razorgator, Vivid Seats makes a customer service pledge to its buying customers. In that case, the resale market is open to all comers and likely prices will edge down over time. The maps also display the deal scores for each seat. All tickets are the same, equal to or better than what the buyer requests. The company, which set its initial IPO pricing at $26, saw the share . You can also use StubHub to list tickets that you don't want for sale, and see if other users want to buy them. They decide how to price the inventory, when to sell it, whether to impose restrictions on the tickets such as delayed delivery, non-transferability and floor or ceiling limits on the price of any ticket resold. Savvy investors made millions buying grocery store stocks at rock bottom prices in March. [76], In November 2022, Pennsylvania Attorney General Josh Shapiro sued Grubhub claiming that the service failed to properly disclose that prices for food ordered through GrubHub could be higher than the same item ordered at a restaurant. Content Pit Review: Is it Possible to Find Fast, Inexpensive, and High Quality Content? Even eBay makes mistakes when trying to buy into the tech-driven future. StubHub operates one of the world's largest online ticket reselling marketplaces. [63], In June 2019, reports came out alleging that Grubhub had registered more than 23,000 web domains in restaurants' names without their consent, in what was cast as "an attempt to generate greater commission revenue and prevent restaurants from building their online presences." StubHub responded to the accusations, saying that their default is to offer 120 percent credit to their ticket marketplace to purchase new tickets to another event. Confusing consumers as to which website is the official site rather than a similarly named site is something the FTC made very clear they will address. Will the resale market continue to exist in its present form? The value of publicly traded companies is skyrocketing, rising 13% or nearly $5 trillion just this year alone, says Wilshire Associates. Is StubHub legit? StubHub spends a lot of money buying online advertising, including paid search and social media posts. I believe Live Nation will wind up with control of ticketing at the Kroenke venues both in Colorado and at the Los Angeles Rams new stadium. While you can make some decent money this way, there are other avenues you can use to scalp unwanted or extra tickets that are lower in fees. Guest CommentaryIndustry StubHub doesn't offer live chat, but you can DM them on Facebook or Twitter to talk to someone online. About StubHub. 2013 Grubhub and Seamless merge. Deloitte employs 182,000 people in over 150 countries, and member firms serve more than 80 percent of the world's largest companies, as well as large national enterprises, public institutions, and . 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. [74] Grubhub released a statement the same day stating they let restaurant workers know in advance, but the claim was immediately disputed by workers. Want to learn step-by-step how I built my Niche Site Empire up to a full-time income? It is free to list and search for tickets on StubHub. Grant Suneson. 2: Will Federal or State Governments file an Antitrust objection to the buyer? The stock market has proven over its history to be one of the greatest vehicles of wealth generation ever. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. StubHub is reportedly considering such a move through a direct listing, which would increase access to liquidity and speed up recovery . OVG is super competitive, and is currently building venues around the world. StubHub is an online ticket marketplace where anyone can buy or sell any ticket to any event nationwide. Help us improve this article with your feedback. Interested? It can be a great way to score tickets to hot events that may have been sold out. [22] In late 2018 Grubhub shut down the Eat24 brand. Also, theFederal Trade Commissionmade clear in their recent Ticket Workshop just how much they disfavor companies advertising misleading web addresses (known as white label sites) which appear to be the actual box office when they are in fact controlled by others. Here are 12 . Instead, prudence returns in place of profligacy and once more cash is king. Lawrence Pines 25+ years of experience as an equity and foreign exchange options trader. Its so difficult to understand that both MIT economists and University of Chicago Booth school professors get it wrong. Because of StubHub and other resale markets, consumers who didnt know they would be in New York when Billy Joel was playing the Garden or that their new romantic interest really wanted to see Lady Gaga play in Las Vegas now have a reliable way to get those tickets. Perhaps this is because Kijijis trust and safety infrastructure was immature relative to that of StubHub. A Cramer believer raises $10 billion and buys StubHub. You should also know if you can rely on it to provide the tickets you purchase. Its sort of like getting married. Is Beyonces Tour Another Dynamic Ticket Price Mess? The offers that appear in this table are from partnerships from which Investopedia receives compensation. Overview of 2022 1099-K Regulations. Undoubtedly, Hubbard will have to change the name of his company from Rival to Vanquished. The search engine has the advantage of aggregating results from multiple vendors and allows the customer to compare prices. Spend time searching for tickets and best prices, Order only tickets that offer mobile delivery, Keep records of your purchase in case the venue cancels the event and does not reschedule, How to Scale and Outsource 90% of the Work, Allowing Your Empire to. They really hit you with the fees at checkout, though. The good news is that this platform is a safe and convenient way to sell sought-after tickets. Demand for event tickets turns on several factors. It has more than 2.4 million active users. Its the collective cathartic experience of a crowd. Founded in 2004, it is a subsidiary of the Dutch company Just Eat Takeaway since 2021. Before StubHub, the only alternatives when tickets were sold out were the local That exposure could trigger litigation against any public acquirers board in the event restrictions upon transferability became the new standard, wiping out the value of the acquisition. market. Interest rates are currently very low. If either Google or Facebook bought StubHub, it would disadvantage the other 50% of the ticket market which pays for search on these platforms. Like Ticket Liquidator, Razorgator promises that tickets arrive on time and are valid for entry into the event. The companies listed in the chart have a combined market capitalization of around $10 trillion. Summary Definition. For those who are purchasing tickets that require a physical copy, you might want to reconsider shopping with StubHub. Grubhub Inc. is an American online and mobile prepared food ordering and delivery platform. 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. [7], In November 2007, Grubhub secured $1.1 million in Series A funding, led by Amicus Capital and Origin Ventures for the purpose of expanding into San Francisco and New York markets. Market-beating stocks from our award-winning analyst team. They immediately sent me an offer for free guacamole. "When a publicly traded company becomes a privately-held company, the public company's shares are purchased at a premium by the investors buying the company. Now that they are also combined with another company (Viagogo), StubHub offers their services in a whopping 90 countries. Control of that supply resides with the promoters, leagues, and producers. Staffing at StubHub had increased to 350 workers by the time of the sale. By 2016, the company was delivering in more than 50 markets across the U.S.[38] In July 2018, Grubhub announced that it had expanded its delivery capabilities to 28 new cities in the US. [30] North American headquarters would remain in Chicago with Grubhub founder, Matt Maloney, joining the board of directors and heading North American operations.[48]. Although StubHub is making some smaller direct purchase deals and has licensed vendor relationships with certain sports teams, it has almost no control over either the supply or distribution of the tickets it sells. Maybe Im old fashioned in my thinking, but it occurs to me that every PDF ticket I saw had all sorts of ads printed on it. They are currently not a publicly traded company and do not have a stock symbol. Will the buyer of StubHub replicate the history of MySpace or Skype? Index funds track a particular index and can be a good way to invest. Because of how they are paid, the plaintiffs claim they may often get paid below federal or state minimum wage, even when they work long hours. Customers can choose to receive alerts that notify them if their favorite artist or team is playing in their city. Check out the pros and cons of GMV. While its true that major sports championships still draw without any correlation to price thats more the corporate entertaining marketplace. [42], In February 2020, the company announced the launch of its new Grubhub+ monthly subscription program, which offers free, unlimited food delivery from partner restaurants for monthly fee. When prices get too low, inventory sells, thereby clearing the market and causing prices to rise until supply and demand reach equilibrium. For buyers, receiving the tickets as soon as possible can give them peace of mind when it comes to knowing that they have the tickets in hand. Ive also purchased another 100,000 tickets or so to resell over the past decade. The plaintiffs in Wallace v. Grubhub claim that the work of these drivers makes them employees rather than independent contractors. Grubhub Inc. is an American online and mobile prepared food ordering and delivery platform. Boasting as the largest crypto trading volume for a crypto exchange in the United States, Coinbase made its debut on Nasdaq as a publicly-traded company with a valuation of close to $100 billion. But, their bigger business is selling tickets bought by investors. Read more: What is Regulation Fair Disclosure? The legacy companies JPMorgan Chase and Visa are major participants in the financial services industry, which encompasses commercial banking, investment banking, and credit cards -- a sector that Visa and Mastercard(NYSE:MA) together dominate. "[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. And, many of the old school hard stock tickets had ads printed on the back. First, they offer a safe transaction where someone can buy a ticket and feel secure they will get into the show or get a refund in the event of an issue. If Vivid took control of StubHub, this combination would have nearly 2/3rd of the current North American resale market. Now, StubHub sells tickets which consumers bought but no longer want. Ticketmaster then imposes a service charge when processing the transaction. Original review: Feb. 4, 2023. Alphabet, who also owns Google, is a publicly-traded company. Have questions or want more information? SeatGeek also offers a number ofsafetyguarantees for buyers. [10] In March 2011 $20million in Series D funding raise was led by DAG Ventures. July 20, 1969: Moon landing updates on Yankee Stadium scoreboard. The company also makes sure that your tickets arrive on time. Second, as often as 40% of the time, ticket prices on the secondary market resell below face value, allowing consumers to avoid paying full price. A publicly traded company, on the other hand, is a company that has sold all or a portion of itself to the public via an initial public offering (IPO), meaning shareholders have a claim to part of . Are there presales for season ticket holders, subscribers, preferred credit card holders, people with the correct band, venue, promoter, Spotify or Facebook password? DoorDash is looking to join competitors Uber and Grubhub as a publicly traded company . The Company offers tickets for live sports, music, and theatre events. They have a unique program in place which is designed to protect buyers from receiving fraudulent tickets, but it also protects the sellers. However, there is no upward limit on the exploding costs of paid search required to grow the business, the increasing losses from consumers fraudulently claiming tickets were invalid, and the unpredictable risks globally as regulators evaluate how to restrict resale profit seeking. publicly-traded meaning: a publicly-traded company is one whose shares can be bought and sold on a stock exchange: . The resulting vertically integrated structure managed our entire . This field is for validation purposes and should be left unchanged. [72] This practice was banned in California in 2021 for its abuse of restaurants. Live Nation decides that its business strengthens by giving teams and artists positive control of tickets. 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. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 9 ChatGPT Success Stories to Highlight What You Can Do! Resale markets like StubHub provide three essential services for consumers. [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. [49] As part of this, Grubhub's logo was changed to include the Just Eat Takeaway house. Word of advice- do not buy tickets from stubhub if you . [53] Comparisons were made online between this ad and a similar ad from the grocery store chain Kroger. The price set for tickets varies endlessly. Control of distribution is held by the primary ticket issuers, teams, leagues and producers. Here's the breakdown: Waste Management (U.S. & Canada) - Approx. Businesses of all sizes in America are facing an unprecedented crisis as a result of the COVID-19 pandemic. Calculated by Time-Weighted Return since 2002. Many events were canceled in light of changing health and safety requirements, but many customers found that they werent able to get their refunds.

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