Seatwave Denies Flotation Stories

Seatwave founder and chief exec Joe Cohen has dismissed newspaper speculation that he has appointed former Rupert Murdoch aide Marty Pompadur to pave the way for a flotation.

"We have no plans to do that at present and haven’t appointed any advisers," he told Pollstar after the Daily Telegraph suggested that adding the former News Corp. Europe chairman to the Seatwave board could be the first step toward launching the company on the stock market.

The story might be fueled by the fact that Pompadur, who joins the Seatwave board as a non-executive director with immediate effect, may also be investing in the company.

Seatwave recently announced the appointment of former Vodafone exec Aksel van der Wal as chief financial officer. The company raised US$25 million (£12.54 million) in funding, some of which came from existing investors including Atlas Ventures, Mangrove Capital Partners and Adinvest.

In 2007 the secondary ticket seller’s customers listed more than 1.7 million tickets for events in no fewer than 38 countries on its site, although the company’s business methods have also led to it having run-ins with Live Nation and German promoter Marek Lieberberg.