Private equity firm GTCR on Tuesday said it's made a strategic investment in Vivid Seats LLC, which sells tickets for live sports, concerts and theater events a la Ticketmaster, owned by Live Nation Entertainment and eBay Inc.-owned StubHub. The amount of the investment was not disclosed, but as part of the transaction, GTCR will work closely with Vivid Seats co-founders Jerry Bednyak and Eric Vassilatos as the company grows, focusing on developing the company's technology and service. Vivid Seats, headquartered in Chicago, touts itself as the largest independent marketplace for live events tickets, with millions of transactions per year. "Through their leading technology and customer service platform, Vivid Seats delivers a differentiated marketplace experience for ticket buyers and sellers," said GTCR Managing Director Lawrence Fey in a statement. Vista Equity Partners has also invested in Vivid Seats.
Copyright © 2017 MarketWatch, Inc.