Eventbrite Files for $200 Million IPO

September 13, 2018

Event registration and ticketing platform company, Eventbrite, plans to go public. The company filed for an initial public offering (IPO) on Aug. 23, stating that it intends to raise $200 million from sales of its Class A shares. 

Goldman Sachs, J.P. Morgan, Allen & Company and RBC Capital Markets are underwriting the IPO and Eventbrite stock will be listed on the New York Stock Exchange (NYSE) with the ticker symbol “EB.”  

On Sept.7, Eventbrite announced that it plans to sell 10 million shares priced $19-$21 each, to raise $200 million at the midpoint of that range. The valuation of the company will be $1.8 billion.

The intent stated in the Securities and Exchange Commission (SEC) document is to first and foremost repay its outstanding loans. While the company has reported significant revenue growth, it has lost nearly $100 million in the past two and a half years. 

Eventbrite has previously raised $332.3 million over nine funding rounds since 2006. 

The IPO states that the company may use a portion of the net proceeds to acquire or invest in complementary businesses, products, services, technologies or other assets, although there are no agreements or commitments in place to do so at this time. 

The offering will be made only by means of a prospectus. For details on how to obtain it, go HERE.

 

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Overview: The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality. In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way. “We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.” Amenities: The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.  The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need. Gold Key Members The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events. OCCC Events: This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.  The Center’s top five events during their 2022-2023 fiscal year included:  AAU Jr. National Volleyball Championships 2023 200,000 Attendees $257 Million in Economic Impact MEGACON 2023 160,000 Attendees $205 Million in Economic Impact Open Championship Series 2023 69,500 Attendees $89 Million in Economic Impact Sunshine Classic 2023 42,000 Attendees $54 Million in Economic Impact Premiere Orlando 2023 42,000 Attendees $108 Million in Economic Impact