First, you have to follow the basics of supply and demand. Are the tickets being dynamically priced so that they change continuously in response to the demand the ticket servers observe as the sales take place? Now, StubHub sells tickets which consumers bought but no longer want. market. That pooled energy creates a high, which is what draws people, again and again, to buy tickets, stand in lines and be part of something bigger than themselves and a screen. Once you do, it will be time well spent. OVG also owns Pollstar and holds the annual Pollstar Live and Production Live conferences in Beverly Hills.
is stubhub a publicly traded company? The good news is that this platform is a safe and convenient way to sell sought-after tickets. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Later, prices move back for those seats which didnt sell. Answer (1 of 9): No. They have the discretion to allow or restrict resale of tickets and the ability to require tickets be sold only on specific markets or within particular price floors and ceilings. The Wallace v. Grubhub Holdings contractor lawsuit alleges that Carmen Wallace and Broderick Bryant and other drivers were misclassified as independent contractors and Grubhub defied wage-and-hour requirements under the Fair Labor Standards Act, the Illinois Minimum Wage Law, and the California Labor Code. [62][61], An August 2019 episode of the podcast Underunderstood reported that Yelp listings for some restaurants provide Grubhub "referral numbers" which, when called instead of the restaurant's phone number itself, facilitate the recording of the calls and can result in the restaurant being charged commission fees, even in some cases when resulting in no order. StubHub operates one of the world's largest online ticket reselling marketplaces. This route has been pursued by several technology firms in recent times, including Roblox, Spotify and Slack. Things You Should Know. Whats the consequence for StubHub if this becomes the global standard? Lindsay is the author of this solution article. Grubhub has been criticized for antitrust price manipulation, listing restaurants without permission, and allegedly misclassifying workers. 43,700 employees, 19% union; StubHub canceled both deals within two hours of my purchase because the seller complained the price posted was an error.
Our List of Publicly-Traded Ecommerce Companies Also, unlike StubHub, Ticket Liquidator only accepts sellers who it carefully vets and considers qualified and trustworthy. StubHub did issue a full refund of both purchases. The more nuanced and complicated answer is that the ticket business is easy to get into and hard to make work. 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. Teams, artists, and venues partnered with StubHub. Is StubHub legit, though? Content Pit Review: Is it Possible to Find Fast, Inexpensive, and High Quality Content?
What is StubHub? : StubHub We have accomplished this through a combination with Concord Acquisition Corp ("Concord") (NYSE: CND.U), a publicly traded special purpose acquisition company. So far, I have never received a message offering me a discount or upgrade while at an event. [21] In October 2017, Grubhub announced that had it completed its acquisition of Eat24. You can't haggle for a lower ticket price on StubHub, but you can search around to see how fair a ticket price is before you buy the ticket.
Is YouTube a Public Company? View the Answer - Growing Savings 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. [77][78] Restaurants were left facing angry customers, refunded orders, and inability to reach Grubhub's customer service. [28], By mid-2020, in the middle of the coronavirus pandemic where demand for services delivering food from restaurants and takeaways surged, Grubhub announced it was keeping its drivers safe by offering contact-free delivery as well as the option to order pickup for anyone who felt more comfortable getting the food themselves. Returns as of 03/04/2023. It maintains a database of tickets for sale, lists of potential buyers, APIs, and a large body of consumer data history. Companies Marketcap displays them for editorial purposes only. We already see the limited transferability arguments being established by lobbyists and corporate public relations teams. [25], LevelUp, a Boston-based diner engagement and payment solutions platform was acquired by Grubhub in September 2018. These companies are limited by shares and are represented by suffixing 'Ltd.'. In this case, its probably a return to the wisdom of Bill Graham the legendary San Francisco promoter who, when asked why he didnt charge the absolutely highest price the market would bear for an artist in high demand replied because I want the customer to have money left so he can come again tomorrow.. If you are selling lots of tickets or plan to attend several events, make sure you do the math on how much money you are spending in fees for the convenience of using StubHubs listings. Micron Technology (MU) IBM (IBM) Google (GOOG) John Deere (DE) Salesforce (CRM) Splunk (SPLK) From factory robotics to customer service chatbots, machines armed with complex algorithms processing massive amounts of data are helping companies in nearly every industry achieve explosive growth. Rival has been backed by great VCs like Andreessen Horowitz. It's the same thing. The company, which was founded in 2003, offers tickets to concerts, shows, sporting events, and other popular activities. It is free to list and search for tickets on StubHub. Fortunately, there are plenty of sites like StubHub on the internet, making connections between ticket buyers and sellers. These sites, similar in name to the actual sites for those restaurants, were built to increase GrubHubs revenue. companies: 3,568 total revenue (TTM): $21.073 T. . [27], In March 2019, Grubhub took over SkipTheDishes' operations in the United States after SkipTheDishes announced its exit from the U.S. However, this alone does not make a tech company. The commercial was panned, as it was seen as too obnoxious. StubHub presents itself as a tech company. According to the Better Business Bureau, StubHub has earned an A-, which is a really good score for a company of this size.. You don't have to worry about someone running a ticket-selling business out of their garage. The following is a list of professional sports teams you can invest in . Anyone considering a purchase of StubHub also has to figure out whether its infrastructure is mature once it loses the umbrella of services provided by its corporate parent eBay. [13] Grubhub completed the acquisition of AllMenus that month. ", "Grubhub's Free Lunch Was a Fucking Disaster", "Grubhub offered people free lunch but it turned into a disaster", "Commonwealth of Pennsylvania v. Grubhub Holdings, Inc. and Grubhub, Inc", "Grubhub says it'll be more transparent about how it marks up food prices at local restaurants", "AG Josh Shapiro Announces Grubhub to Provide New In-App Transparency Disclosures on its Prices", "Pennsylvania AG: Grubhub to provide new in-app price transparency", https://en.wikipedia.org/w/index.php?title=Grubhub&oldid=1135830565, This page was last edited on 27 January 2023, at 03:12. PayPal is an electronic commerce company that facilitates payments between parties through online funds transfers. But, that market is extremely treacherous and fiercely competitive. StubHub is a legit organization that employs more than 12,000 people who are all there to ensure that tickets get bought and sold in a timely manner. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. In July 2005 nearly 14 years to the day before eBay put StubHub up for sale, Rupert Murdoch paid $580 million for MySpace. The Company offers tickets for live sports, music, and theatre events. So, in preparation for being a standalone company, the first step StubHub took was to alienate a large portion of the suppliers providing them inventory.
Ticket Liquidator promises a 100% money-back guarantee if sellers fail to meet any of these promises. GrubHubs commissions increased from 7% to as much as 20% for delivery orders which originated on a GrubHub site rather than that of the restaurant itself. Online ticket platform StubHub is considering going public in a direct listing that would value the company at US$13 billion, according to Bloomberg. 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. Overstock.com also offers an online auction service. As the third-largest online ticket reseller, Vivid Seats ensures that it conducts transactions anonymously and never passes on the buyer's information to the seller. It will not only make ChargePoint public, but also should provide $493 million in net proceeds. Hop on over to StubHub today to learn more about the events you could be attending! Each option receives a proprietary deal score.
Sports ticketing companies poised for years of growth Too many shows are failing to sell through their inventory. Discounts typically appear when prices collapse in the last hour or so before curtain time.
Is Stubhub Legit & Safe? How Reliable Is It Really? (2022 Update) August 15, 2019 . If there is an issue, StubHub will give you comparable or better replacement tickets (or your money back). Interest rates are currently very low. StubHub doesn't offer live chat, but you can DM them on Facebook or Twitter to talk to someone online. They determine which specific seats are sold as Platinum or VIP. Then, they charge up to ten times that of the standard priced seat next to it. StubHub responded to the accusations, saying that their default is to offer 120 percent credit to their ticket marketplace to purchase new tickets to another event. Portal Banner. Ultimately, the resale market for tickets depends on Live Nations willingness to allow its existence. The stocks of a private company are owned and traded by only a few private investors. During its time as a standalone company, it traded on the New York Stock Exchange (NYSE) under the ticker symbol "GRUB". Three days after the FTCs workshop in ticketing concluded, the BOSS ACT 2019 was introduced in Congress. And, last is the supply of available tickets relative to the demand. Cash in advance is a stipulation used in some trade agreements, requiring that a buyer pay the seller in cash before a shipment is received. Market-beating stocks from our award-winning analyst team. "[60] By Thursday night, the hashtag #BoycottGrubHub was trending on Twitter. Its also impacting Chance the Rappers current ticket availability, which after two days on sale, was approximately every seat in any venue. Buy StubHub at the peak of the market, when shows are under pressure to sell out at the primary market level, when the economy is poised to slow, when ticket buyers are souring on the experience of paying too much or fighting through waiting rooms, presales and code safaris?
Buy sports, concert and theater tickets on StubHub! StubHub competes with the likes of Vivid Seats and SeatGeek, both of which have recently gone public as a result of special purpose acquisition company (SPAC) takeovers. We often have issues when people purchase tickets from stubhub rather than from live nation/ticketmaster because we can't fix the problem or refund the guest ourselves. They survive on legal loopholes which have never been closed. New Jersey Congressmen Bill Pascrell and Frank Pallone and Connecticut Senator Richard Blumenthal want to impose regulations on how ticket prices display to consumers.