Eventbrite files IPO in bid to go public later this year
It has been reported that global ticketing company Eventbrite has confidentially filed an initial public offering (IPO) with the Securities and Exchange Commission in the US, in a bid to go public later on in the year. The venture will be led by Goldman Sachs Group Inc. and JPMorgan Chase & Co., the Wall Street Journal reports.
Since its inception in 2006, Eventbrite has raised $332.3 million and it is currently valued by investors at well over $1 billion. Details about the ticketing company’s IPO will become available to the public in the weeks leading up to its listing on the stock market.
The news is the latest in what has been a busy twelve months for the ticketing giant. The last year has seen the company acquire Dutch ticketers Ticketscript, US-based Ticketfly and Spanish platform Ticketea.
Just this summer, Eventbrite has racked up a number of partnerships. In May, the ticketing company teamed up with Instagram to integrate and streamline ticket buying through the app. In June, the company announced it would be entering into a multi-year partnership with Barcelona-based event and party series Elrow Family. July has also seen the company sign a deal with British promoter MJR.
The news of Eventbrite’s intentions to go public come after a ticketing partnership announcement with UK-based experiential brand Mega Events. The brand, which is behind popular events including the Pizza & Prosecco Festival and The Great British Gin Festival, will place all its ticketing and touring needs with Eventbrite.
“At Mega we use the latest technology and marketing techniques to promote our events and it is reassuring to know that with Eventbrite alongside us, our efforts are supported by matching cutting edge tools,” says Nathan Reed, managing director.
“A ticketing partnership with Eventbrite felt like the right move to support our growth”
“Our festivals and brands cover music, clubbing, food, drink and culture, and draw people in from across the UK and Europe; a ticketing partnership with Eventbrite felt like the right move to support our growth.”
Experiential events have seen a marked increased in popularity over the past few years and those with touring potential are particularly attractive to consumers and businesses alike. In 2017, Mega Events sold over 200,000 tickets across its portfolio of events in the UK and Europe.
Sally Pigott, head of festivals at Eventbrite, says this rise in popularity is part of a new generation of events and event organisers: “Developing new, participative and long lasting festivals that tour across the UK and beyond requires great creativity, skill, and hard work,”
“I’m that confident adding Eventbrite’s Instagram and Facebook integrations can help Mega even better connect and engage with their audience, and ultimately sell more tickets.”
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.