Eventbrite Files for U.S. IPO
(Bloomberg) -- Online meeting and planning service Eventbrite Inc. filed for an initial public offering in the U.S. to repay debt and raise working capital.
In a regulatory filing Thursday, San Francisco-based Eventbrite listed the size of the offering at $200 million, a placeholder amount that will likely change.
Square Inc. struck a deal last September to process payments for Eventbrite and made a investment of $25 million in the startup.
Eventbrite, led by co-founder and Chief Executive Officer Julia Hartz, charges for tickets sold through its site for fundraisers, seminars, wellness activities, concerts, classes and other events, according to the filing. More than 700,000 event creators used the site in 2017 to issue 203 million tickets for events in 170 countries, according to the filing.
The company’s revenue for the first six months of the year rose to $142.1 million from $88.2 million in the same period in 2017, the filing shows. Eventbrite’s net loss climbed to $15.6 million in the first half from $8.3 million.
The offering is being led by underwriters including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Allen & Co. The shares are expected to trade on the New York Stock Exchange under the symbol EB.
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