Tech ticketing company Eventbrite plans on going public next week (9/20/18), and we couldn’t be more excited over this. Founded all the way back in 2006, the digital ticketing startup has really given companies like Ticketmaster and LiveNation ($LYV) a run for their money.
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Funding for this fledgling ticketing company reached over $140 million, and growth has been fantastic, with their IPO expected to bring in over $200 million in proceeds for the company. The real interesting aspect of this play is that they are by far the largest standout in a very crowded field, and were able to capture what’s known as “first mover advantage” within the new democratized online ticketing industry. It’s tough to keep market dominance with over 200 market competitors and copycats, but Eventbrite seems to be able to continue the innovation.
Why Eventbrite is the way to go
Eventbrite is one of the few exciting tech IPO’s in 2018, and for good reason. Looking at market trends, and even how major companies are shifting their marketing, the younger generations are focused on creating experiences. Eventbrite excels at this, providing (and monetizing) a platform with easy to use and feature rich technology. This helps companies, individuals, and even large business escape the deathgrip that LiveNation and Ticketmaster has on event ticketing.
Looking at a breakdown of the S-1 that Eventbrite filed, there are a few key highlights:
- 97% customer retention rate
- 200 million tickets issued
- 71 million tickets were paid tickets (where Eventbrite actually makes money)
- Added “premium” services and higher pricing structures to packages in September of 2017, which will help boost revenue
- Revenue increased 51%, from $133 million to $201 million from 2016 to 2017
Experiences within the Eventbrite ecosystem
The trends towards experiences is a strong one, and people of all generations are looking to “do something” not “buy something,” although Apples new $1,500 iPhone could be an exception. Two million events happen on Eventbrite happen annually, spanning everything from concerts, to private tastings from catering companies.
If you can get in on the IPO for this Silicon Valley Unicorn, then you’ll be part of the danced party as well.