Spotify, Sonos and now Eventbrite: music-related companies are going public at a rate of knots in 2018. According to the Wall Street Journal, ticketing firm Eventbrite has filed confidentially for an IPO to take place later this year, working with Goldman Sachs and JPMorgan Chase & Co on the offering. The confidential nature of the filing means we won’t get the full skinny on Eventbrite’s financials until it publishes a prospectus closer to the IPO.
When Eventbrite completed its acquisition of fellow ticketing firm Ticketfly from Pandora last September, the company said that the combined platforms were on course to process more than 200m tickets globally in 2017, generating around $4bn in gross ticket sales. Eventbrite also said that it was being used by more than 50 million ticket-buyers a year, and that it was powering sales for nearly three million events.
In March this year, The Information suggested that Eventbrite’s actual revenues had been around $200m in 2017, and that it was predicting that to grow to around $300m this year. The company has raised $332.3m over 10 funding rounds since 2006, and according to one report in March this year was valued at around $1.5bn then – up from $1bn (and thus ‘unicorn’ status) in 2017.
Besides Ticketfly, acquisitions of European companies including Dutch company Ticketscript in January 2017 and Spanish firm Ticketea in April 2017 have bulked up Eventbrite’s business.