Industry News

Eventbrite closes in on IPO

Eventbrite looks set to go public before the end of this year in one of the sector’s biggest-ever IPOs.

The event planning company, expected to generate $4bn in gross ticket sales this year, has filed an initial public offering with the Securities and Exchange Commission, according to the Wall Street Journal citing individuals familiar with the matter.

Eventbrite reportedly wishes to complete the offering, which will be led by Goldman Sachs and JP Morgan Chase, by the end of 2018.

The update from the Wall Street Journal comes three months after the same newspaper said the California-based company had “taken steps” towards a public listing in the second half of 2018.

Eventbrite, which completed a $200m acquisition of Ticketfly in 2017, said its expanded group expects to process more than 200 million tickets globally this year. In April it acquired Spanish ticketing provider Ticketea.

In 2014, it raised $60m, and it was valued at $1.2bn. Other investors in Eventbrite include Tiger Global Management, Sequoia Capital, and T. Rowe Price.

Last year payments operator Square struck an agreement to process payments for the service, and made a $25m strategic investment.

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