For the international contemporary live music industry

Eventbrite raises $200 million in IPO

World News
October 1, 2018

UNITED STATES           

Eventbrite, the San Francisco-based global event management and ticketing systems provider has launched an initial public offering (IPO) on the New York Stock Exchange worth $200 million.

The company priced the IPO to open at $21-$23 per share from an initial listing of $19-$21 per share, but due to demand, it opened at $37 per share and closed at $36.50.

However, Eventbrite is on track to post more than $100m in losses in the past three years with deficits of $40.4 million in 2016 and $38.5 million in 2017, according to the IPO.

The company was founded in 2006 and last year purchased Ticketfly from Pandora for $200m. This year it acquired Spanish company Ticketea and then  Canadian firm Picatic, a ticketing and event registration platform.

Papers show Andrew Dreskin, co-founder of Ticketfly and president of music at Eventbrite, receives an annual salary of $650,000, with an opportunity to earn $500,000 annually in performance bonuses. He also received a $183,750 signing-on bonus in 2017.

Eventbrite opened its first international offshoot in the UK in 2012 and has other offices in Australia, Brazil, Germany, Ireland, Holland and across the US.

Due to a hacking attack that affected 27 million customers, Ticketfly was forced offline for several weeks earlier this year.

Other Stories

AEG Europe makes new appointments

December 4, 2018
EUROPE        AEG Europe has confirmed a trio of appointments, including a newly-created role of vice-president of programming across its European portfolio of…
Read more

Banks are still monitoring Ticketmaster hack impact

December 4, 2018
UNITED KINGDOM         Banks are continuing to monitor customer accounts for the potential fraud attempts, following the security breach at Ticketmaster (TM)…
Read more