News - 25/07/2018

Ticketing firm Eventbrite ready for its IPO

Ticketing firm Eventbrite ready for its IPO

According to the "Wall Street Journal", ticketing firm Eventbrite has filed for an IPO to take place later this year, working with Goldman Sachs and JPMorgan Chase & Co on the offering. The filing has confidential nature: this means Eventbrite’s financials will de undisclosed only when the company publishes a prospectus closer to the IPO.

"Music Ally" explains that When Eventbrite completed its acquisition of fellow ticketing firm Ticketfly from Pandora last September, the company said that the combined platforms were on course to process more than 200m tickets globally in 2017, generating around $4bn in gross ticket sales. Eventbrite also said that it was being used by more than 50 million ticket-buyers a year, and that it was powering sales for nearly three million events.

In March 2018, "The Information" suggested that Eventbrite’s actual revenues had been around $200m in 2017 with a prediction of $300m growth this year. The company has raised $332.3m over 10 funding rounds since 2006, and according to one report in March this year was valued at around $1.5bn then – up from $1bn (and thus ‘unicorn’ status) in 2017.
 

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