Seatwave

Seatwave was an online secondary ticket marketplace founded in the United Kingdom in May 2006 by Joe Cohen, a former Match.com and Ticketmaster executive. The company developed a platform on which ticket holders could list tickets for music, sporting, and cultural events, set their asking prices, and sell to buyers browsing available inventory. Seatwave began online trading in February 2007 and positioned itself as a more transparent and consumer-oriented alternative to informal ticket touting by providing searchable listings, price comparison, transaction processing, and a buyer-protection promise. Its principal consumer service was the Seatwave TicketIntegrity guarantee. Under the guarantee, buyers were promised delivery of the tickets they had ordered by the day of the event. If the tickets did not arrive, Seatwave stated that it would seek replacement tickets or refund the buyer. The model nevertheless operated in a politically sensitive market: secondary ticketing platforms were frequently criticized for enabling professional touts, inflated prices, speculative listings, and the diversion of tickets away from primary sales channels. Seatwave became a visible participant in the UK debate over ticket resale and gave evidence to a parliamentary inquiry into ticket touting in 2007. The business attracted substantial venture financing during its expansion. It raised a reported $25 million in a Series C round in February 2008, led by Fidelity Ventures with participation from Atlas Venture, Mangrove Capital Partners, and AdInvest. In June 2009, it announced a further $17 million Series D round, bringing reported cumulative funding to $53 million, or approximately €38 million at the time. Seatwave also received business-growth recognition in the late 2000s, including appearances on Media Momentum lists and awards associated with fast-growing UK technology and business companies. Seatwave expanded its relationships across the live-events ecosystem. It was described as an approved secondary ticket partner of Fulham Football Club in 2011, although UK law generally prohibited unauthorized resale of football tickets unless expressly permitted by the relevant club. The company also worked with Grand Union Management, whose represented artists included The Enemy and Reverend and the Makers. In 2012, it opened a second-hand ticket shop near London’s O2 arena, and in 2014 it entered a live-music application partnership involving Timbre. Leadership changed as the company matured. Founder Joe Cohen stepped down as chief executive in January 2013 and became non-executive chairman. Ajay Chowdhury was appointed chief executive in September 2013. Seatwave also had investor-linked board representation, including Atlas Venture partner Fred Destin, while Marty Pompadour served as a non-executive director from 2008 until resigning in June 2010. In August 2018, Seatwave’s parent, Ticketmaster Ltd, announced that the marketplace would close in October and that secondary-ticketing services would be moved to Ticketmaster’s main website. Ticketmaster presented the change as an effort to address exploitation of the secondary market by ticket touts. Seatwave stopped accepting new listings and purchases on 27 November 2018. The brand is therefore defunct, and its former marketplace is no longer operating.

Seatwave was established in May 2006 by Joe Cohen, who had previously worked at Match.com and Ticketmaster. Its business was designed around secondary ticketing: sellers could list tickets for music, sports, and cultural events, choose their asking prices, and transact with buyers through the platform. The service began online trading in February 2007. The company developed during a period when internet marketplaces were becoming an important channel for ticket resale. Seatwave’s consumer proposition combined a searchable inventory with the ability to compare prices and select among listings. Its TicketIntegrity guarantee promised that buyers would receive their tickets by the day of the event; if delivery failed, the company said it would arrange replacement tickets or issue a refund. This protection was intended to distinguish managed online resale from informal transactions, although the wider secondary-ticketing model remained controversial. Seatwave became involved in UK policy discussions about ticket touting. In 2007, the Department for Culture, Media and Sport appointed a Select Committee to investigate the resale market and possible legislative responses. Seatwave gave evidence through Joe Cohen. The committee’s report, published in January 2008, identified both consumer advantages and consumer detriments. The government response later that year favored improving the primary ticket market and encouraging industry participants to develop a voluntary code before resorting to new legislation. Seatwave declined to join a European secondary-ticketing trade association, citing differences over principles and policy. The platform raised significant venture capital as it expanded. In February 2008, it secured a reported $25 million Series C investment led by Fidelity Ventures, alongside existing investors Atlas Venture, Mangrove Capital Partners, and AdInvest. In June 2009, it announced a further $17 million Series D round and stated that total funding had reached $53 million, equivalent to about €38 million at the time. Seatwave received recognition in business-growth programs during this period, including Media Momentum’s Ones to Watch list and awards for fast growth, management, and online business. The company built relationships with rights holders and live-event participants. It was described as an approved secondary ticket partner of Fulham FC in 2011. This relationship was significant because UK law restricted the resale of football tickets to circumstances expressly authorized by the relevant club. Seatwave also partnered with Grand Union Management, representing artists such as The Enemy and Reverend and the Makers. In 2012, it opened a physical second-hand ticket shop near the O2 arena. In 2014, it broadened its live-music involvement through a partnership connected to the Timbre concert ticket-buying application. Seatwave’s leadership evolved as it moved beyond its startup phase. Joe Cohen left the CEO position in January 2013 and became non-executive chairman. Ajay Chowdhury became CEO in September 2013. Investor representatives and advisers also appeared in the company’s governance history. Marty Pompadour joined as a non-executive director in 2008 and resigned in June 2010. Fred Destin, associated with Atlas Venture, was also identified as a board member. Ticketmaster ultimately absorbed the strategic role previously played by the standalone Seatwave service. On 13 August 2018, Ticketmaster Ltd announced that Seatwave would close in October and that secondary-ticketing functions would be moved to Ticketmaster’s main website. The stated rationale was to combat exploitation of secondary ticketing by professional touts. Seatwave stopped accepting new listings and purchases on 27 November 2018. No reopening was announced, and the brand remains defunct.

• 2018

  Seatwave closes

  [1]Seatwaveen.wikipedia.org

  Ticketmaster announced the closure of Seatwave, which stopped accepting listings and purchases on 27 November.

• 2013

  CEO transition

  [1]Seatwaveen.wikipedia.org

  Founder Joe Cohen became non-executive chairman, and Ajay Chowdhury was appointed CEO later that year.

• 2012

  Physical resale shop opens

  [2]Seatwave opens second-hand ticket shop near O2 arenabbc.com

  Seatwave opened a second-hand ticket shop near London’s O2 arena.

• 2009

  Series D financing

  [1]Seatwaveen.wikipedia.org

  Seatwave announced a $17 million Series D round and reported total funding of $53 million.

• 2008

  Series C financing

  [1]Seatwaveen.wikipedia.org

  The company announced $25 million in Series C funding led by Fidelity Ventures.

• 2007

  Online trading begins

  [1]Seatwaveen.wikipedia.org

  Seatwave began operating online in February 2007, allowing users to list and purchase event tickets.

• 2006

  Seatwave is founded

  [1]Seatwaveen.wikipedia.org

  Joe Cohen founded Seatwave in May 2006 as an online secondary ticket marketplace.

A consumer-facing secondary ticket marketplace emphasizing searchable listings, price comparison, transaction convenience, and buyer protection.

• Secondary ticketing platform · 2007

  Seatwave online marketplace

  Seatwave’s core service allowed ticket holders to list tickets for music, sporting, and cultural events at seller-selected prices. Buyers could browse available inventory, compare prices, and complete purchases through the platform. The service was supported by transaction handling and the TicketIntegrity guarantee, which promised delivery by the event date or replacement tickets or a refund.

• Buyer protection

  TicketIntegrity guarantee

  The TicketIntegrity guarantee was Seatwave’s principal buyer-protection feature. It assured customers that ordered tickets would arrive by the day of the event. Where delivery failed, Seatwave stated that it would attempt to source replacement tickets or refund the purchase.

• Retail location · 2012

  Seatwave physical ticket shop

  In 2012, Seatwave opened a physical second-hand ticket shop near London’s O2 arena, extending its online resale model into an in-person retail setting.

• 2018

  Ticketmaster consolidates secondary ticketing under its main websiteStrategy

  Background

  Secondary ticketing faced continuing criticism over professional touting, inflated prices, and the treatment of consumers. Ticketmaster announced the move after operating Seatwave as a separate marketplace.

  Action taken

  Ticketmaster Ltd announced that Seatwave would close and that secondary-ticketing services would be transferred to Ticketmaster’s primary website.

  Aftermath

  Seatwave stopped accepting new listings and purchases on 27 November 2018 and became a defunct brand.

  Source

• 2013

  Seatwave changes executive leadershipStrategy

  Background

  After several years of venture-backed growth, founder Joe Cohen moved out of the chief executive role.

  Action taken

  Cohen became non-executive chairman, while Ajay Chowdhury was appointed chief executive in September.

  Aftermath

  The leadership transition marked a move from founder-led management toward a new operating phase.

  Source

1. 1Seatwaveen.wikipedia.org
2. 2Seatwave opens second-hand ticket shop near O2 arenabbc.com
3. 3Seatwave name new boss as ticket site turns a profitindependent.co.uk
4. 4Seatwave enters live music through Timbre concert ticket buying appthedrum.com