Eventbrite files for $200 million IPO
- Kia Kokalitcheva, author of Axios Pro Rata
EventBrite co-founders Julia Hartz (CEO) and Kevin Hartz (chair). Photo by Drew Angerer/Getty Images.
Event ticketing software company Eventbrite, valued at $1.5 billion by private investors, on Thursday filed for a $200 million IPO.
Why it matters: Expect this to be one of many new IPO filings based on where we are on the calendar, as the post-filing waiting period to launch road-shows now brings us past Labor Day, when most institutional investors are back at work.
The deal: The San Francisco-based company plans to trade on the New York Stock Exchange under ticker symbol EB, with Goldman Sachs listed as left lead underwriter.
The financials: Eventbrite isn't profitable yet. It reported a net loss $38.5 million in 2017, on revenue of $201.6 million. In the first six months of 2018, it reported a $15.6 million net loss on $142.1 million in revenue.
Backers: Eventbrite has raised more than $300 million in venture capital from investors like Tiger Global, Sequoia Capital, and T. Rowe Price.