After Spotify went public, very successfully, it seems to have set off a chain reaction in the music industry with Sonos looking at an IPO and now ticketing giants Eventbrite are the latest to make the move.
Eventbrite are the world’s biggest events “ticketing and event technology” company in the world, with over 50 million ticket-buyers coming through their services each year after being founded in 2006. With revenues soaring year-on-year for the ticketers they have now reportedly filed confidentially for an Independent Public Offering (IPO) to take place later this year.
According to the Wall Street Journal, the company are looking to go public with help from Goldman Sachs and JPMorgan Chase & Co to offer their company on the public stock market. The details haven’t been released so the financials of the offering as well as any potential dates that they might go live are, as of yet, unconfirmed.
Eventbrite has seen incredible growth in the past year, aided in particular thanks to their acquisition of Ticketfly from Pandora last September. Eventbrite got a great deal, purchasing Ticketfly for $200 million just 20 months after Pandora had themselves bought the company for $450 million. The purchase put Eventbrite in a very powerful position for their market, saying at the time: “In the first half of 2017 alone; Eventbrite, Ticketfly, and Ticketscript processed nearly 15 million tickets for more than 130,000 music concerts and festivals.”
Earlier this year in March it was suggested that Eventbrite’s revenues for 2017 had been around $200 million and they they were predicting even more growth this year with figures around $300 million by the close of 2018. Eventbrite look to be broadening their grasp with more and more purchases of smaller ticketing companies expanding their reach. In April this year they acquired Ticketea to increase their influence in ticketing sales further in Europe.