SeatGeek to go public via SPAC

This comes in a $1.35 billion deal with Billy Beane

SeatGeek agreed to go public in a merger with the special-purpose acquisition company (SPAC), RedBall Acquisition (RBAC), backed by Billy Beane, a baseball executive of "Moneyball" fame, sending the online ticketing brand’s value rocketing up to $1.35 billion.

The company’s partners stretches wide and includes numerous brands and companies like Brooklyn Nets, Liverpool F.C., Dallas Cowboys, the National Football League, half of the English Premier League, and a variety of theatres across New York City's Broadway and London's West End.

The investment round is led by VC-firm Accel alongside Qualtrics founder and Chairman Ryan Smith, alongside the owner of Smith Entertainment Group. RedBall Acquisition (RBAC) will result in proceeds grossing around the $675 million mark, and include a $100 million private investment in public equity (PIPE).

For more from us at Waivly, join our free fun-to-read and to-the-point newsletter enjoyed by hundreds of people across the internet every day of the week 👇