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Eventbrite files for $200 million IPO

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.

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27 mins ago - Economy & Business

America on borrowed time

Illustration: Aïda Amer/Axios

Economic recovery will not be linear as the world continues to grapple with the uncertainty of the pandemic.

Why it matters: Despite being propped up by an extraordinary amount of fiscal stimulus and support from central banks, the state of the global economy remains fragile.

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Scoop: Gina Haspel threatened to resign over plan to install Kash Patel as CIA deputy

CIA Director Gina Haspel. Photo: Win McNamee/Getty Images

CIA Director Gina Haspel threatened to resign in early December after President Trump cooked up a hasty plan to install loyalist Kash Patel, a former aide to Rep. Devin Nunes (R-Calif.), as her deputy, according to three senior administration officials with direct knowledge of the matter.

Why it matters: The revelation stunned national security officials and almost blew up the leadership of the world's most powerful spy agency. Only a series of coincidences — and last minute interventions from Vice President Mike Pence and White House counsel Pat Cipollone — stopped it.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

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  2. Politics: Biden says, "We will manage the hell out of" vaccine distribution — Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan — Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat.
  3. Vaccine: Battling Black mistrust of the vaccines — "Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode again — Fed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.
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