Eventbrite has taken its final step toward becoming a publicly traded company.
In an updated S-1 filing this morning, the ticketing and events company announced plans to sell 10 million Class A shares on the New York Stock Exchange at a price range of $19 to $21 under the ticker symbol EB.
At a midpoint price, Eventbrite will raise $200 million at a $1.8 billion valuation.
Eventbrite is not profitable and has been losing money since 2016. According to the documents, it posted losses of $40.4 million in 2016 and $38.5 million in 2017. In the first six months of 2018, the company has posted a net loss of $15.6 million. The company is making changes to make up for some of those losses — at the end of August, it announced a new pricing scheme for its customers using the “Essentials” package.
Its revenue is rising though, increasing from $133 million in 2016 to $201 million last year.
Backed by Sequoia, Tiger Global and T. Rowe Price, which together own about 48 percent of the company, Eventbrite has raised roughly $330 million from private investors. It was valued at $1.5 billion in 2017.
Based in San Francisco, the company was founded in 2006 by Julia Hartz, Kevin Hartz and Renaud Visage.
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