Following earlier reports its entire business was up for sale, Vivid is instead welcoming another private-equity backer in the form of Chicago's GTCR
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Former Grubhub COO Chia will take Vivid Seats to the "next phase of its corporate evolution", says Jerry Bednyak, co-founder of the leading US ticket marketplace
By IQ on 29 Oct 2018
US secondary ticketing platform Vivid Seats has hired Stan Chia as CEO.
Chia was formerly COO of online food ordering service Grubhub, and has previously held senior roles at Amazon, Cisco and General Electric. He will take over daily operations at Vivid Seats – the largest independent ticket resale service North America, and a competitor to the likes of Ticketmaster Resale/TicketsNow and eBay-owned StubHub – from co-founders Eric Vassilatos and Jerry Bednyak, who remain co-chairmen of the company’s board.
“Stan’s experience driving incremental growth, strategic partnership development and innovative operations makes him an ideal fit to further advance Vivid Seats and the ticket purchasing experience,” says Bednyak, who with Vassilatos founded Chicago-based Vivid Seats as a start-up in 2001. “I am confident that he’ll take the company to the next phase of its corporate evolution and look forward to working with him.”
“I want to thank the founders and Vivid Seats’ shareholders for the opportunity to lead such an exceptional company of great people during a time of growth and innovation in the marketplace,” adds Chia (pictured). “I’ve always had a passion for live events and technology, and I am excited to work with the Vivid Seats team to provide consumers the best experience in online ticketing.”
Vivid Seats is backed by private-equity firms Vista Equity Partners and GTCR, the latter of which acquired a significant stake last May.
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