The event and ticketing services company Eventbrite just filed its S-1, meaning it’s going public. It intends to raise as much as $200 million.
Here are some key details according to the filing:
- The company brought in over $200 million in revenue in 2017 but remained unprofitable.
- In the first half of this year, the company reported losing $15.6 million.
- In 2017, it lost $38.5 million.
- Though the net loss does appear to be going down, and the company reports net revenue growth of 51%, it seems to have a long slog ahead in terms of being in the black.
It’s quite likely this is an effort for the 12-year-old company to raise some much-needed cash to remain competitive. The ticketing and event space is brutal, what with players like Live Nation and Ticketmaster.
We’ll have to see if this IPO will pique investor interest. You can read the full S-1 filing here.