Eventbrite raises $60 million and puts off IPO for a while.
Despite hiring a seasoned public company CFO, Eventbrite will probably not go public before the end of 2013. Getting a $60 million infusion from the likes of T. Rowe Price and Tiger Global Management helps. According to the Wall Street Journal (subscription may be required), Eventbrite has raised $135 million and has no need for IPO funding any time soon.
The WS believes this is part of a trend away from tech IPOs as private funding is more available at good valuations. Other examples include:
- SurveyMonkey raising a total of $800 million through January [Ed.: Really? Seems like a lot for that company, but good for them]
- LivingSocial raising a $110 million round in February
- Facebook’s most recent private round prior to its IPO being underwater
Eventbrite said it expects to sell $1 billion of tickets this year, versus $600 million last year, but did not seem to mention its cut or costs. Either way, prospective social media investors are looking toward a 2014 IPO.
Eventbrite. The early days.