Ticketing firm Eventbrite has set the terms for its upcoming IPO. The company is planning to raise $200m from selling 10 million shares at a price range of $19-$21. “At the midpoint of the proposed range, Eventbrite would command a fully diluted market value of $1.8 billion and an enterprise value of $1.7 billion,” noted the Nasdaq announcement of the terms. The pricing is expected to take place next week (17-21 September).
In its recent IPO filing, Eventbrite revealed that its net revenues grew by 51% year-on-year to $201.6m in 2017, although its net losses increased slightly to $40.4m that year. The company issued 203m tickets in 2017 for 3m events, although many of those tickets were free – its total of paid tickets issued last year was 71m. “We believe that in 2018, our platform will address a current market opportunity in our top 12 markets that is estimated to be 1.1 billion paid tickets generating $3.2 billion in gross ticket fees, along with an additional 1.9 billion free tickets,” claimed the filing. We’ll be keen to see how the markets respond to the IPO this month.
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