Vivid Seats SPAC Presentation Deck
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COVID Impact Mitigated by Swift Operational Decisions
ā¢ P&L: Rapid stream lining of expenses minimized losses in low volume environment
Performance marketing spend scaled down immediately; brand spend quickly negotiated; COGS scale with volume
G&A expense reduced by 50%+ within 2 months while retaining critical expertise across functional areas
- April-December 2020 PF EBITDA losses limited to less than $2mm monthly despite 94% decline in GOV
Customer and Partner Policies: Balanced policies implemented across ecosystem to ensure vibrant return
- Provided customers option of cash refund or loyalty + charity upon event cancellation; $75mm + of cash refunds provided
- Implemented differentiated 'net payment' model with sellers in March; first to normalize payment terms with POD+15 in November
Expenses (2)
Total Expenses (2)
2019
GOV (1)
94%
Reduction
COVID
VIVIDSEATS.
% 2019 Cost
Structure
Marketing & COGS
1
2019
-70%
90%+
Reduction
COVID
G&A Expense
2019
1. Marketplace
COVID
-30%
50%+
Reduction
2. Industry
2019
3. Platform
(1) Gross order value represents the total transactional amount of marketplace orders placed on our platform in a period inclusive of fees and net of cancellations that occurred during that period
(2) Expenses reflect reported results for June - December 2020
4. Financials
80% +
Reduction
COVID
15View entire presentation