Leadership / 09.07.18

Eventbrite Sets IPO Range of $19 to $21, Valuing It at $1.8B

Access Staff

Original article published on TechCrunch (09/07/18) by Kate Clark

Eventbrite, the ticketing and events firm based in San Francisco, is getting closer to becoming a publicly traded company. In an updated S-1 filing Sept. 7, Eventbrite presented plans to sell 10 million Class A shares on the New York Stock Exchange for $19 to $21 under the ticker symbol EB. At a midpoint price, Eventbrite will raise $200 million at a $1.8 billion valuation. The company quietly filed its initial IPO paperwork in July, then publicly disclosed its S-1 the following month. Eventbrite has been losing money for the last two years, posting losses of $40.4 million in 2016 and $38.5 million in 2017. In the first half of this year, Eventbrite has posted a net loss of $15.6 million. In order to boost its performance, the company is rolling out changes including a new pricing scheme for its customers using the "Essentials" package. Eventbrite's revenue is on the rise, increasing from $133 million in 2016 to $201 million in 2017.

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Tags: Eventbrite , IPO