No IPO No Problem As Later Stage Companies Attract Private Funding

 

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.


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