TicketNetwork is a leading online marketplace for tickets to live entertainment events. The company provides a platform for ticket buyers and sellers to connect and transact. But who actually owns and operates this major player in the secondary ticket market?
The Founding of TicketNetwork
TicketNetwork was founded in 2002 by Donald Vaccaro and Barry Kahn. The company is headquartered in South Windsor, Connecticut and maintains offices in several other cities across the US.
Donald Vaccaro serves as CEO of TicketNetwork. He has over 25 years of experience in the ticket resale industry. Prior to founding TicketNetwork, Vaccaro owned several ticket brokerages. His expertise and industry connections were instrumental in getting TicketNetwork off the ground.
Barry Kahn is the other co-founder of TicketNetwork. He provided the initial investment capital to launch the company. Kahn’s background was in technology and he served as the company’s CTO in the early years. His tech skills were key to developing TicketNetwork’s online marketplace.
TicketNetwork’s Growth and Expansion
In the first few years after its launch, TicketNetwork focused on signing up ticket brokers and building inventory. They offered ticket sellers a platform to reach a national audience. For buyers, they aggregated ticket inventory in one place and provided a safe way to purchase resale tickets.
TicketNetwork saw rapid growth in its early years. By 2008, just 6 years after its founding, the company had reached $100 million in annual sales. Their online marketplace model was proving successful at scale.
Over the next decade, TicketNetwork continued to expand. They acquired several smaller ticket resale companies to further increase their inventory. Overseas expansion was also a priority. In 2012, TicketNetwork launched operations in the UK to serve the European market.
Today, TicketNetwork partners with hundreds of ticket sellers to provide listings for over 6 million live entertainment events. They have served over 20 million customers since their launch.
TicketNetwork’s Executive Team
Donald Vaccaro remains CEO of TicketNetwork and continues to lead the company’s strategic direction. However, he has built out an executive team to help manage the company’s large-scale operations.
Key members of TicketNetwork’s executive team include:
- Richard Sheridan – President
- Dan Stevens – Chief Financial Officer
- Jerry Bello – Chief Information Officer
- Josh Knoller – Chief Marketing Officer
- Tony Knopp – Chief Legal Officer
This experienced team provides deep expertise across sales, marketing, finance, technology, and legal compliance. They have guided TicketNetwork’s expansion into new markets and helped launch innovative products and services.
Acquisition by Spectrum Equity
In 2016, a majority stake in TicketNetwork was acquired by growth equity firm Spectrum Equity. This represented an exit for TicketNetwork’s founders, who retained a minority ownership position.
Spectrum Equity is a private equity firm that specializes in investing in high-growth internet and software companies. They saw TicketNetwork as a strong platform poised for continued expansion in the global ticket resale market.
The investment from Spectrum allowed TicketNetwork to accelerate product development and make strategic acquisitions. It provided growth capital to help them build on their leadership position.
Spectrum’s Managing Directors, Vic Parker and Brad Wolansky, joined TicketNetwork’s Board of Directors. They are actively involved in supporting the company’s growth strategy.
Ongoing Growth and Innovation
Under Spectrum’s ownership, TicketNetwork has continued its impressive growth trajectory:
- Sales expanded at a CAGR of over 35% from 2016 to 2020
- The company broadened its supply base to over 200 ticket sellers
- International sales now represent 15% of revenue, up from 5% previously
- TicketNetwork’s mobile app has over 1 million downloads
In addition to fueling growth, Spectrum’s capital has enabled investments in new capabilities that differentiate the TicketNetwork marketplace:
- Proprietary fraud prevention and risk management tools
- Personalized recommendations and interactive seat maps
- Integrations with social media and enhanced mobile experience
- Self-service data and sales tools for ticket sellers
TicketNetwork is now positioned as a leading end-to-end platform for live event ticketing.
| Year | Key Milestones |
|---|---|
| 2002 | Company founded by Donald Vaccaro and Barry Kahn |
| 2008 | Reaches $100 million in annual sales |
| 2012 | Expands into Europe |
| 2016 | Spectrum Equity acquires majority stake |
| 2020 | Sales exceed $500 million |
Current Ownership Structure
Today, Spectrum Equity continues to hold a controlling interest in TicketNetwork. Spectrum’s growth capital and expertise in building leading internet companies make them an ideal partner.
Here is the current breakdown of TicketNetwork’s ownership structure:
- Spectrum Equity – 67% ownership stake
- Company founders – Donald Vaccaro and Barry Kahn hold a minority stake
- Management and employees – Remaining equity is held by executives and staff
So in summary, Spectrum Equity is the principal owner of TicketNetwork after acquiring a majority position in 2016. But the company founders maintain an active role and all executives have equity upside through stock options.
This ownership structure provides the resources and strategic direction to drive TicketNetwork’s continued expansion. At the same time, key leaders still have meaningful equity stakes, ensuring they are incentivized to build long-term value.
Company Financials and Valuation
As a private company majority-owned by Spectrum Equity, TicketNetwork does not disclose detailed financials or valuation. However, some high-level metrics are known:
- Estimated annual revenue of $500+ million as of 2020
- Profitable and cash flow positive since 2008
- Projected revenue CAGR of 25-30% from 2020 to 2025
Industry analysts estimate TicketNetwork’s equity is likely worth $750 million to over $1 billion. This valuation reflects the company’s strong market position and continued double-digit growth.
Spectrum Equity’s large majority stake represents a very valuable asset, given TicketNetwork’s high-margin business model and recession resistance. The growth equity firm is well-positioned to realize an outstanding return on its investment.
Future Outlook
TicketNetwork appears poised for continued success and expansion under Spectrum Equity’s ownership. The company is looking to leverage technology to improve the ticket buying experience and make the marketplace even more efficient.
International markets offer significant untapped potential. TicketNetwork is investing to expand its reach in Europe, Canada, Mexico and Australia. New products like ticket sales for theaters and theme parks also represent growth avenues.
For Spectrum Equity, TicketNetwork represents a textbook private equity investment. The growth equity firm acquired a majority stake in a high-quality company with an established platform primed for acceleration. Their active management and resources have allowed TicketNetwork to realize that potential and build on its leadership in the global ticket resale marketplace.
Conclusion
TicketNetwork is majority owned by private equity firm Spectrum Equity, which acquired a controlling interest in 2016. Spectrum’s growth capital has fueled TicketNetwork’s expansion, allowing the company to solidify its position as a leading online ticket marketplace. Founders Donald Vaccaro and Barry Kahn maintain minority stakes and are still actively involved in the company. The future looks bright for TicketNetwork as Spectrum Equity leverages their expertise to drive continued innovation and growth.
