SeatGeek, a venture capital–backed ticketing app, may have a strong sales pitch when it starts early discussions with investors this week about a potential initial public offering led by Morgan Stanley. During recent quarters, revenue grew roughly 70% from the prior year, thanks to a boom in live concerts. While SeatGeek isn’t yet profitable, it expects to be by next year, a person familiar with the company’s financials said.
But a friendly investor reception isn’t guaranteed. Fourteen-year-old SeatGeek, which is holding meetings with investors to test the waters, is one of a slew of companies trying to figure out whether this month’s trio of high-profile tech listings—by Instacart, Arm and Klaviyo—provides much of a signal of whether investors are willing to pay up for IPOs.
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