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.
The company filed its initial IPO paperwork confidentially back in July, then unveiled its S-1 to about two weeks ago.
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.
