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SeatGeek didn’t become one of the biggest names in ticketing by following the playbook. It started as a simple ticket search engine on the TechCrunch 50 stage (https://techcrunch.com/video/seatgeek-ticket-price-forecaster-pitch-at-tc50/) (now known as TechCrunch Battlefield) and took on the industry’s massive incumbents by expanding its vision, surviving industry-defining challenges, and convincing investors that even a monopoly could be disrupted.
In this episode of Build Mode (https://techcrunch.com/podcasts/build-mode/) , host and Startup Battlefield lead Isabelle Johannesen sits down with Jack Groetzinger, co-founder and CEO of SeatGeek, to unpack the company’s 17-year journey from startup to industry leader. Jack shares how SeatGeek raised nearly $400 million in venture capital, why he believes founders should think about expanding rather than pivoting, what it was like fundraising during the COVID-19 shutdown of live events, and why the company ultimately walked away from its planned SPAC. (https://techcrunch.com/2022/08/31/seatgeek-raises-238-million-privately-after-ditching-going-public-via-spac/) He also explains how founders can convince investors to back them against an entrenched incumbent, why your first hires define your company’s future, and how AI is reshaping the future of live entertainment and ticketing.
They get into:
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Why SeatGeek chose to compete with Ticketmaster and how investors evaluated that opportunity
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How SeatGeek survived COVID and closed its hardest fundraising round during the pandemic
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Why passionate customers can become your best fundraising asset
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The hiring mistakes Jack wishes he could undo and why your first employees shape company culture
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How AI is transforming ticketing, live entertainment, and the fan experience
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Jack Groetzinger’s advice for founders building companies that challenge established incumbents
Subscribe to Build Mode on (https://podcasts.apple.com/gb/podcast/build-mode/id1561051074) Apple Podcasts (https://podcasts.apple.com/gb/podcast/build-mode/id1561051074) , Spotify (https://open.spotify.com/show/0Dqmcq2aDrZkS9v1fITOKV) , or (https://pod.link/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vWUZMNjEyNzkzNjQ5NA) wherever you like to listen (https://pod.link/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vWUZMNjEyNzkzNjQ5NA) . And watch the full videos on (https://youtu.be/1jCGsEOizz8) YouTube (https://youtu.be/F0DKg84QPwM) . New episodes of Build Mode (https://techcrunch.com/podcasts/build-mode/) drop every Thursday.
Chapters:
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00:00 – Intro: How SeatGeek Took on Ticketmaster
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01:09 – From Startup Battlefield to Building SeatGeek
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04:03 – Finding Product-Market Fit in a Broken Ticketing Industry
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05:54 – Why SeatGeek Expanded Instead of Pivoting
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07:14 – Raising Nearly $400M and Surviving the Hardest Fundraise During COVID
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10:46 – Why SeatGeek Walked Away from Its SPAC IPO
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13:57 – How to Raise Money Against a Monopoly Like Ticketmaster
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17:02 – The Hiring Mistakes That Nearly Hurt SeatGeek’s Culture
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19:08 – How AI Will Transform Live Entertainment and Ticketing
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22:19 – Regulation, Competition, and Jack Groetzinger’s Advice for Founders
Hosted by Isabelle Johannessen. Produced and edited by Maggie Nye. Audience development led by Morgan Little. Special thanks to the Foundry and Cheddar video teams.
