Grubhub Inc. is an American online and mobile prepared food ordering and delivery platform. 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. Here are some of its biggest competitors (or StubHub alternatives) in the ticket marketplace. If you're just getting started investing, these basics can help guide you. In preparation of being offered for sale, StubHub raised the sell fees it charges smaller ticket brokers by 50%. StubHub presents itself as a tech company. Fees apply to both the buyer and the seller of the ticket. This can include actual physical tickets as well as e-tickets (provided that they are valid). My opinion is that a drink or food special texted to a specific fan during a concert or sporting event is not transformative. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. companies: 3,568 total revenue (TTM): $21.073 T. . [71], In October 2020, a group of restaurants launched a class-action suit against Grubhub for having included them in its listings without having asked permission (or, in some cases, despite permission having been denied), because this caused "damage to (the restaurants') reputations, loss of control over their customers dining experiences, loss of control over their online presence, and reduced consumer demand for their services"; plaintiffs specifically cited that Grubhub would list obsolete menus with invalid prices and/or unavailable options (leading to customer complaints) and that Grubhub refused to delist restaurants upon request. [2], As of 2019, the company had 19.9 million active users and 115,000 associated restaurants across 3,200 cities and all 50 states in the United States. [14] MenuPages was acquired by Seamless in September 2011. Lets analyze who might want to buy StubHub: Live Nationis the most obvious candidate. Like I mentioned above, since Subway's owned by a private company (Doctor's Associates . It can be a great way to score tickets to hot events that may have been sold out. [45][46] However, on June 9, 2020, Just Eat Takeaway announced it would be purchasing Grubhub for $7.3 billion in an all-stock deal. Teams, artists, and venues partnered with StubHub. Research prices before you buy. LYV | Complete Live Nation Entertainment Inc. stock news by MarketWatch. Heres a small insight into what sorts of issues may lay beneath the surface: Recently I personally made two purchases on StubHub totaling just over $3,000. It's the same thing. By: Eric Fuller StubHub is for sale. 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? Unlike StubHub, which operates as a broker, Ticket Liquidator connects its users directly with sellers to negotiate transactions. By 2003 the company had become profitable, and the pair sold StubHub to e-trading giant eBay in 2007 for a whopping $310 million. The companies listed in the chart have a combined market capitalization of around $10 trillion. what does a duck billed platypus eat. The partnership allows Amazon to take a 2% stake in the company with the option to acquire up to 15% based on performance.[52]. The company promises that tickets are valid and authentic, delivered prior to the event, and are the same, equal to or better than what the customer ordered. Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Vivid has some of the best technology of all the resale markets. It took them nearly two months. Before any transaction is complete on StubHub, they authorize the buyers credit card. However, there are a few things you can do to keep problems to a minimum: For even more options to flip tickets check out our list of Stubhub Alternatives. The company has been selling tickets for nearly two decades and claims to sell the largest selection of guaranteed tickets across the web. Almost every festival this year has sold below face value on the secondary markets. Rival has been backed by great VCs like Andreessen Horowitz. Customers can order tickets either through the company's web site or appand can pay by credit or debit card. Stubhub is not related to Ticketmaster/live nation. The stocks of a private company are owned and traded by only a few private investors. Alphabet, who also owns Google, is a publicly-traded company. But, Live Nation would also probably face the most severe antitrust evaluation of any of the possible buyers. However, following up on this can be a challenge. "[59][60], After a Twitter boycott campaign was initiated, Maloney later claimed his words were "misconstrued", adding "I want to clarify that I did not ask for anyone to resign if they voted for Trump. These sites, similar in name to the actual sites for those restaurants, were built to increase GrubHubs revenue. David has helped thousands of clients improve their accounting and financial systems, create budgets, and minimize their taxes. Now that they are also combined with another company (Viagogo), StubHub offers their services in a whopping 90 countries. Although StubHub is making some smaller direct purchase deals and has licensed vendor relationships with certain sports teams, it has almost no control over either the supply or distribution of the tickets it sells. were being hawked for $243 and up on Stubhub. Is StubHub legit? They immediately sent me an offer for free guacamole. The value of publicly traded companies is skyrocketing, rising 13% or nearly $5 trillion just this year alone, says Wilshire Associates. 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.. TicketNews Staff. Big home-buying companies like Opendoor lightly renovate and resell properties for profit. In September 2005 they paid $2.6 billion for Skype, thinking perhaps that telephony had something to do with online auctions. They all have reasons to enter the ticketing business. If the holder of the ticket owns it, then they can sell it regardless of whether the artist, team or promoter approves. Resale markets like StubHub provide three essential services for consumers. Undoubtedly, Hubbard will have to change the name of his company from Rival to Vanquished. [25], LevelUp, a Boston-based diner engagement and payment solutions platform was acquired by Grubhub in September 2018. Vivid Seats also offers a 100% money-back guarantee if it fails to meet these promises and offersa dedicated, in-house customer service team to its buyers and sellers. [15], DiningIn, an online ordering and food delivery company based in Brighton, Massachusetts, was acquired by Grubhub in February 2015. Alternately there are those fans who seek the opportunity to obtain tickets at a discount. Note that publicly traded companies are not publicly owned -- they are not owned or controlled by any government. Boasting as the largest crypto trading volume for a crypto exchange in the United States, Coinbase made its debut on Nasdaq as a publicly-traded company with a valuation of close to $100 billion. However, they do make a guarantee that you will receive valid and quality tickets to the event of your choosing. Before StubHub, the only alternatives when tickets were sold out were the local Investopedia does not include all offers available in the marketplace. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning. Company Overview. The company brings together ticket buyers and sellers and allows them to transact business by using either the company's web site or mobile applications. All tickets are the same, equal to or better than what the buyer requests. The company is based in Chicago, Illinois. View real-time stock prices and stock quotes for a full financial overview. This longevity alone is proof of their legitimacy and an assurance that you would get the value for your money. Apple is the dominant maker of devices such as smartphones and tablets, while Microsoft maintains a market-leading position in enterprise software. Learn more. Contact [emailprotected], Last Updated on August 15, 2019 by Olivia Perreault. A public company sells company stock on the stock market. It doesnt really matter what the offer is if the performance is more compelling. [37], In June 2014, Grubhub began offering delivery for restaurants that did not operate their own delivery service. [42], In February 2020, the company announced the launch of its new Grubhub+ monthly subscription program, which offers free, unlimited food delivery from partner restaurants for monthly fee. Ive also purchased another 100,000 tickets or so to resell over the past decade. 3. But, that market is extremely treacherous and fiercely competitive. DoorDash is looking to join competitors Uber and Grubhub as a publicly traded company . [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. Portal Banner. Many people report that their customer service representatives dont seem to care if something goes awry during the ticket-buying process. Many drivers allegedly work more than 40 hours a week but do not receive overtime rates for their work. Whats the consequence for StubHub if this becomes the global standard? They also allege that they do not receive the same benefits that an employee does. Jasper AI Review (Formerly Jarvis AI): Is It Still The Best AI Writing Assistant? A public company is one that issues shares that are publicly traded, meaning the shares are available for anyone to buy on the open market and can be sold, usually very easily. But, thats a whole other story. By . Make sure you understand all of the rules of their return policy before you get on the phone with a representative. It is also to be able to interact with specific seat holders and sell them future event tickets or send them coupons for the nearest bar or concession stand. And, last is the supply of available tickets relative to the demand. A private company can sell its own, privately held shares to a few willing investors. Buyers face a 10 percent fee on the purchase price of the ticket. All customers have the option of receiving their tickets through either adigital e-ticket download, electronic transfer, physical shipping, or local pickup. Six years later, in 2005, SeamlessWeb introduced a free ordering service to consumer diners to complement the existing corporate-ordering service. Still, it was unable to complete its platform in time to meet the contracted August 1, 2019 take over date for ticketing on behalf of Kroenke Sports and Entertainment. Along with a company overview, we will look at their built-in safety for buyers and sellers. This strategy, named Hopium by my friend Sam Sherman who founded Broker Genius, the industry leading ticket repricing software, led to Taylor Swift giving away tens of thousands of seats nightly on her Reputation tour to avoid embarrassment. You can also use StubHub to list tickets that you don't want for sale, and see if other users want to buy them. Here are the major risk factors facing anyone who might consider taking a run at buying StubHub: 1. She uses her passion for words to share what she has learned with the world. Because of StubHub, nothing is ever truly sold out. So far, I have never received a message offering me a discount or upgrade while at an event. In this case, their efficiency would likely hurt them. I would never make such a demand. StubHub was founded in 2000 with the intention . Alphabet trades on the Nasdaq under the symbol GOOG. Vivids new CEO Stanley Chia came from GrubHub, which was just in the news for creating more than 20,000 white label restaurant web addresses. Yankees fans are already thrilled as its FULL SIZE WOODEN BAT DAY. [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. 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. Today, we continue to offer you peace of mind with our exclusive FanProtect Guarantee, best-in-class customer service and product features that ensure we have your back. Bank of America is an advertising partner of The Ascent, a Motley Fool company. Discounted offers are only available to new members. If you have ever been in the market for tickets to a sold-out show, then you may have heard of StubHub. [12], In September 2011, Grubhub secured $50 million in Series E funding and acquired New Yorkbased competitor Dotmenu, the parent company of Allmenus and Campusfood. Understanding the price of any event has become a game of bluff poker.
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