Photo Credit: SeatGeek
Employees in Berlin and New York departing from SeatGeek say the company is cutting around 15% of its workforce worldwide.
SeatGeek is the latest company in the broader music industry to cut jobs, according to those familiar with the situation. Employees departing from the company in New York City and Berlin, as well as other individuals currently listed as SeatGeek staff, report that around 15% of SeatGeek’s workforce are being let go across the globe.
The company has yet to respond to media requests for clarification. According to one affected employee, the news was delivered “abruptly,” with software engineers and user experience specialists among those let go.
“I just learned I’m part of the 15% layoffs at SeatGeek,” wrote a former SeatGeek Senior UX Researcher on LinkedIn. Another outgoing employee also noted on LinkedIn that it was “a tough day at SeatGeek with many good people affected.”
SeatGeek was founded in 2009 by Jack Groetzinger and Russell D’Souza, initially as a ticket resale marketplace. Nowadays, the platform has premium partnerships in sports as well as ticketing major concerts and theatre productions. The company is partnered with several major league teams in North America and Europe, including Premier League Clubs Liverpool and Manchester City, and the NFL’s Dallas Cowboys and Tennessee Titans.
In 2021, SeatGeek announced plans to go public in a SPAC deal with RedBall Acquisition Corp, but that deal was terminated due to unfavorable market conditions. The company filed confidential IPO papers in April 2023, and has lined up Citigroup, Morgan Stanley, and Wells Fargo as underwriters.
The company has expanded its partnerships over the past year, including the addition of ten teams to its MLB roster. It also partnered with the NHL’s newest team, the Utah Hockey Club. SeatGeek was recently announced as the new Official Ticket Marketplace of the Big 12 conference, and revealed it secured a multi-year deal as the official ticketing partner of USA Softball.
SeatGeek also unveiled a new feature last year called Parties, which allows fans to invite, share, and manage tickets as a group.