Ticket Reseller Viagogo Raises $15 Million

Viagogo, a UK-based online ticket reseller formed by StuHub co-founder Eric Baker, has raised $15 million in fourth-round funding. The round includes participation from new investors like tennis players Andre Agassi and Stefanie Graf, plus from return backers like Index Ventures, LVMH chairman Bernard Arnault, German media mogul Herbert Kloiber and financier Jacob Rothschild. Viagogo had previously raised around $50 million.

 

PRESS RELEASE

viagogo, Europe’s leading secondary ticketing company, today announced it has secured $15 million of additional funding to support its rapid global expansion and to reinforce its position as the stand out market leader in Europe.

 

Investors in this latest funding round include a range of high profile individuals such as former tennis stars Andre Agassi and Stefanie Graf. They join an impressive list of existing investors including Lord Jacob Rothschild via his family’s interests, Danny Rimer of Index Ventures and Brent Hoberman. Agassi and Graf will also join viagogo’s advisory board.

 

The financing follows the announcement of groundbreaking partnerships with Andrew Lloyd Webber’s Really Useful Group and Madonna’s Sticky & Sweet Tour, and the recent appointment of former Senior Vice President of Expedia Europe, Alex Zivoder to the role of European MD.

 

viagogo has now secured a total of $70m of external investment, previously announcing $30 million of funding in 2007, and $25m in earlier rounds. Previous financing was raised through the sale of preferred stock, while the latest round consisted solely of common stock.

 

In 2000 Eric Baker founded the largest secondary ticketing company in the US, StubHub, which was sold to eBay Inc (EBAY.O) in 2007 for $307m.

 

Eric Baker, founder and CEO of viagogo said, “This new funding further cements our position as Europe’s leading secondary ticketing company, and is a huge endorsement of our future plans and aspirations. This capital will allow us to accelerate the growth of our business, as we continue to expand and innovate”.

 

Andre Agassi said, “I am very impressed with viagogo’s experienced management team and I look forward to working with them to help build upon their success. I am happy to share my relationships in sports and my experience in the industry to help viagogo achieve new growth.”

 

Stefanie Graf added, “viagogo’s growth throughout Europe is very impressive and I am happy to support its efforts. It is especially meaningful for me to get involved with a business that is filling a need in the European marketplace.”