INSUBCONTINENT EXCLUSIVE:
Eventbrite has taken its final step toward becoming a publicly traded company.
In an updated S-1 filing this morning, the ticketing and
events company announced plans to sell 10 million Class A shares on the New York Stock Exchange at a price range of $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 filed its initial IPO
paperwork confidentially back in July, then unveiled its S-1 to about two weeks ago.
Eventbrite is not profitable and has been losing money
According to the documents, it posted losses of $40.4 million in 2016 and $38.5 million in 2017
In the first six months of 2018, the company has posted a net loss of $15.6 million
The company is making changes to make up for some of those lossesmdash; at the end of August, it announced a new pricing scheme for its
customers using the&Essentials& package.
Its revenue is rising though, increasing from $133 million in 2016 to $201 million last
year.
Eventbrite just made some pricing changes as it moves toward an IPO
Backed by Sequoia, Tiger Global and T
Rowe Price, which together own about 48 percent of the company, Eventbrite has raisedroughly $330 million from private investors
It was valued at $1.5 billion in 2017.
Based in San Francisco, the company was founded in 2006 by Julia Hartz, Kevin Hartz and Renaud
