is stubhub a publicly traded company?
[50][51], In July 2022, Amazon struck a deal with Just Eat to offer Prime customers free Grubhub+ membership for a year. Alphabet, who also owns Google, is a publicly-traded company. 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. FanXchange is the market where Groupon distributes the discounted and face value concert and theater tickets they remainder when shows underperform. Like I mentioned above, since Subway's owned by a private company (Doctor's Associates . Effective immediately, all tickets sold through Ticketmaster, Live Nation, or any of their affiliates are only transferable subject to specific terms. Since most tickets are not refundable, this is a good way to unload some of those tickets and recoup the initial investment by reselling tickets. 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. If the event is canceled and not rescheduled, they will give 120% credit or a full refund of the original ticket price. This field is for validation purposes and should be left unchanged. Is StubHub legit, though? Ticket sellers have the upper hand when it comes to the pricing of their tickets for resale. Purchasing from StubHub means "Tickets will be 100% . Today, we continue to offer you peace of mind with our exclusive FanProtect Guarantee, best-in-class customer service and product features that ensure we have your back. They also allege that they do not receive the same benefits that an employee does. It maintains a database of tickets for sale, lists of potential buyers, APIs, and a large body of consumer data history. Contact Go to the venue's online box office (if they have one) and see if there are still comparable tickets available, and . Any potential buyer also has to consider the political implications of acquiring StubHub. As a result, total MLB attendance is declining year over year. Rival Viagogo acquired StubHub from eBay for US$4 billion back in 2019, fulfilling chief executive Eric Bakers ambition of uniting the two companies that he founded under a single banner. . There are those for whom tickets are an emotional purchase divorced from the economic reality of cost. There are so many opposing forces acting on prices, supply, and distribution. The good news is that this platform is a safe and convenient way to sell sought-after tickets. All good things come to an end. It may not be your first choice, but you will have to be patient with the platform as they are navigating the many challenges that the pandemic has brought about for the industries they work in. Its sort of like getting married. This platform claims to be the leading marketplace for their fans to buy and sell tickets on a user-friendly platform. They are a trusted household name when it comes to buying and selling tickets to just about any type of event. [35], In May 2013, Grubhub and Seamless announced that they were merging, with Seamless representing 58% of the equity and GrubHub representing 42% of the equity of the combined business; the merger was finalized in early August 2013. "Issuer" has the meaning given that term in section 3 of the . So far, I have never received a message offering me a discount or upgrade while at an event. 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. market. Vivid has some of the best technology of all the resale markets. When the next recession comes, and believe me it will, money for luxury goods like tickets becomes more scarce. 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. Each option receives a proprietary deal score. The potential for quick mobile delivery is definitely one of the biggest draws for StubHub. Founded in 2004, it is a subsidiary of the Dutch company Just Eat Takeaway since 2021. The stock can be purchased through any major . Last, we will dive into the pros and cons of the marketplace to determine if this site is legit. These sites, similar in name to the actual sites for those restaurants, were built to increase GrubHubs revenue. And, any such purchase bears the same transferability risk already analyzed. 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. Below is the press release issued by Rep. Pascrell: https://pascrell.house.gov/news/documentsingle.aspx?DocumentID=3931. For over 20 years, StubHub has been the leading marketplace for fans to buy and sell tickets. [22] In late 2018 Grubhub shut down the Eat24 brand. Discounts typically appear when prices collapse in the last hour or so before curtain time. The Stubhub (and similar other) platforms should be shut down; permanently. Many people report that their customer service representatives dont seem to care if something goes awry during the ticket-buying process. 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. All tickets are delivered prior to the event, and if an event is permanently canceled, buyers receive a refund. Have questions or want more information? Business Wire releases for publicly traded companies may be found by using the stock quote function then click "Press Releases" under "news". Grubhub has been criticized for antitrust price manipulation, listing restaurants without permission, and allegedly misclassifying workers. Buy StubHub when the prevailing consumer trend is to wait until curtain time in hopes of getting a ticket for 50% of face value? Use the stock quote function; news will display under "Recent Bulletins" section. 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. DoorDash is looking to join competitors Uber and Grubhub as a publicly traded company . 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. Where to download the StubHub app. Staffing at StubHub had increased to 350 workers by the time of the sale. The commercial shows several people dancing after ordering food from Grubhub, set to "Soy Yo" by the Colombian pop band Bomba Estereo. Perhaps, like all things there is an easy answer and one which is more complicated. 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. Why wait to purchase tickets to the next hottest event happening in your area? The only reason any of these outside companies should consider taking on StubHub is if it provides them a gateway to enter the primary ticket sales market. Once you do, it will be time well spent. In the U.S. its competitors include Uber Eats, DoorDash, Postmates, and EatStreet. Known as scalping, this is a popular way that some people try to make money online. It's where consumers from around the world buy tickets to events. Be sure to inquire about what type of ticket you are purchasing and try to stick with these mobile options for better success on the ticket-selling platform. If an event sells out and they are still holding premium tickets, then there is a good chance that they will try to sell those tickets for more than they paid for them. Online ticket platform StubHub is considering going public in a direct listing that would value the company at US$13 billion, according to Bloomberg. Good people work at StubHub. Since that time, eBay has made StubHub the core of its ticket . Company Name Stock Ticker Symbol Market Type; Ticketmaster Entertainment (MM) TKTM: NASDAQ: Common Stock Price Change Change Percent Stock Price Last Traded . [54], In a 2017 lawsuit, attorney Shannon Liss-Riordan said that the company uses words such as blocks instead of shifts to re-label words and create a false narrative to justify its misclassification of drivers as contractors.[55]. 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. Combined with viagogo, we now span 90+ countries around the world. The Dodgers who bundled all their excess tickets into a consolidation deal with Eventellect wound up unable to sell out their home games for the World Series. Like Ticket Liquidator, Razorgator promises that tickets arrive on time and are valid for entry into the event. But, that market is extremely treacherous and fiercely competitive. All Rights Reserved. But, thats a whole other story. [15], DiningIn, an online ordering and food delivery company based in Brighton, Massachusetts, was acquired by Grubhub in February 2015. A subsidiary of eBay Inc. (EBAY), StubHub has been operating since 2000 and is one of the most recognizable online marketplaces for tickets. Its also impacting Chance the Rappers current ticket availability, which after two days on sale, was approximately every seat in any venue. Because of StubHub, nothing is ever truly sold out. On May 5, 1999, Urban One became a publicly traded company. [17], In December 2015, Grubhub acquired Delivered Dish, a restaurant delivery service in seven markets across the Pacific Northwest and Southwest, including Denver, Las Vegas, San Diego, Portland, El Paso, and Albuquerque. WWE is committed to family-friendly entertainment on its television . The company, which was founded in 2003, offers tickets to concerts, shows, sporting events, and other popular activities. Live Nation stepped into the breach with people and technology to assist with the transition and to help meet ongoing Kroenkes ticketing needs. Google and Facebookhave a different potential reason for looking at StubHub. 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. In September 2005 they paid $2.6 billion for Skype, thinking perhaps that telephony had something to do with online auctions. A U.S. Chamber of Commerce report found that 43% of small businesses . StubHub is reportedly considering such a move through a direct listing, which would increase access to liquidity and speed up recovery . Note that publicly traded companies are not publicly owned -- they are not owned or controlled by any government. How To Invest In A Fast Food Giant. Ticket Liquidator promises a 100% money-back guarantee if sellers fail to meet any of these promises. In addition, like Ticket Liquidator and Razorgator, Vivid Seats makes a customer service pledge to its buying customers. Rival has been backed by great VCs like Andreessen Horowitz. Every share available for purchase in the stock market is issued by a publicly traded company. The plaintiffs filed their class-action Grubhub contractor lawsuit on June 29, 2018, in the U.S. District Court for the Northern District of Illinois.[56]. Grant Suneson. PayPal is an electronic commerce company that facilitates payments between parties through online funds transfers. Customers can order tickets either through the company's web site or appand can pay by credit or debit card. Beyond these items, you need to know the pros and cons of buying or selling your tickets with StubHub before you invest your money in the platform. Its an all or nothing result. Not all companies have stocks while all publicly traded companies have stocks, a privately held company may or may not have stock, depending on the type of private company. Wallace and Bryant argue that drivers work on scheduled shifts, and must work in a certain area. The buyer inputs information about the event into the search engine, and it returns dozens of options for purchasing tickets. Radio One sold 7.15M shares of common stock, making Ms. Hughes, the first African-American women to head a publicly traded company. It can be a great way to score tickets to hot events that may have been sold out. StubHub has operations across the globe. That's not to say StubHub competitors aren't chasing its tail: the company faces major competition from several other online ticket services. 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. 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. Venues have a right to know who enters. 43,700 employees, 19% union; StubHub is a resale ticket marketplace owned by eBay. By: Eric Fuller StubHub is for sale. Buy StubHub when control of the ticket itself lies in the hands of a very tenacious competitor? 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. 2020 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. Coachella weekend two did not even sell out last year while their VIP passes for weekend two went below 50% of face value. StubHub is a safe and secure ticket marketplace. is stubhub a publicly traded company? Is the ticketing company using Platinum and VIP packages to raise prices of premium seats? 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. All of these companies continue to grow rapidly, especially for enterprises of their large sizes, and they generate attractive profit margins, which are emblematic of the strong competitive advantages they enjoy. Live Nation decides that its business strengthens by giving teams and artists positive control of tickets. The third-party delivery service reported $1.9 billion in revenue so far this year, but is still losing money. Original review: Feb. 4, 2023. [20], In August 2017, Grubhub entered into an agreement to acquire Eat24 from Yelp for $287.5 million, subject to regulatory review. The stock market has proven over its history to be one of the greatest vehicles of wealth generation ever. This gives them the scale to block out other potential competition. According to CNN Money, 2007 was a very successful year for the company, handling five million individual transactions, more than in the previous six years combined of its history. The publicly traded company eventually ended up crediting the missing funds against later earnings. OVG also owns Pollstar and holds the annual Pollstar Live and Production Live conferences in Beverly Hills. "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. "[60] By Thursday night, the hashtag #BoycottGrubHub was trending on Twitter. For those who are purchasing tickets that require a physical copy, you might want to reconsider shopping with StubHub. They used to charge 10% to the seller, now its 15%. Well-known international companies that are publicly owned include Petrobras (NYSE:PBR), the Brazilian state oil company, and the Industrial and Commercial Bank of China (OTC:IDCBY), which is controlled by the Chinese government. The easy answer is there is a lot of frothy money out there searching for return. No. Calculated by Time-Weighted Return since 2002. were being hawked for $243 and up on Stubhub. Now that they are also combined with another company (Viagogo), StubHub offers their services in a whopping 90 countries. Ive also purchased another 100,000 tickets or so to resell over the past decade. a is stubhub a publicly traded company? In a different example, a separate Trump company collected $1.3 million as part of a "services . Public ownership of companies, while rare in the U.S., is common elsewhere.