AP/Jed Jacobsohn
Eventbrite founder and president, Julia Hartz, takes His Royal Highness, The Duke of York, on a tour of their San Francisco headquarters.
Eventbrite, the ticketing and event management company, has raised $230 million in its initial public offering after selling 10 million shares at $23 apiece.
The San Francisco-based company had previously set a target price of $19 to $21 each but then increased that range to $21 to $23.
Transform talent with learning that worksCapability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More In its S-1 filing, Eventbrite said it hopes to use the proceeds to increase its capitalization and financial flexibility, and to pay off its debt - which currently stands at $66.36 million. For the year ended December 31, 2017, Eventbrite said it sold 46.7 million tickets and posted a net loss of $38.55 million. The company said it lost just $15.58 million in the first six months of 2018.
In the past 12 years as a private company, Eventbrite has raised $332 million. Tiger Global Management owns a 20.8% stake, followed by Sequoia Capital at 17.6%, and co-founder and chief executive Julia Hartz with 14.6%.
The offering was led by Goldman Sachs Group Inc., Allen & Co, JPMorgan Chase & Co., and Royal Bank of Canada.
Shares will start trading on the New York Stock exchange later Thursday, under the ticker symbol "EB."