Eventbrite joins billion-dollar club with $60 mln infusion: Reuters

To match Feature SANFRANCISCO-SILICONVALLEY/GEEKS

(Reuters) – Online ticketing service Eventbrite said it had raised $60 million in financing from Tiger Global and T. Rowe Price, damping expectations that Eventbrite might hold an initial public offering this year.

Tiger Global, the investment fund perhaps best known for hedge funds, and mutual-fund giant T. Rowe Price  TROW.O approached the company recently about boosting their existing investment, an Eventbrite spokeswoman said. The duo had previously invested $60 million in Eventbrite in April 2013.

“We recognize the importance of having an appropriate level of invested capital to execute our growth strategy and control our destiny,” the spokeswoman said in an email. Including the latest round, Eventbrite has raised $200 million in equity since its 2006 founding.

Fortune magazine, which originally reported the latest financing, said the cash injection valued Eventbrite at $1 billion, which the spokeswoman said was “directionally correct.”

No other investors participated in the round, whose proceeds all went directly to the company rather than cashing out existing investors.

(Reporting by Sarah McBride; Editing by Diane Craft)

Photo: Eventbrite CEO Kevin Hartz and his wife, Julia, president of the company, at Eventbrite headquarters on May 25, 2012. Robert Galbraith, Reuters

Related Posts

Leave a Reply

PEHUB Community

Join the 12500 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

PE HUB News Briefs

RSS Feed Widget

Marketplace

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget