Eventbrite Raises $50 Million In Financing, Led By Tiger Global
Investment to Drive Continued Innovation and Global Expansion in the Ticketing Market
San Francisco, Calif. - May 18, 2011 - Eventbrite announced today that it has secured $50 million in a Series E financing round led by Tiger Global. The company plans to use this new capital to fuel growth in the global ticketing market. This round brings the company's total funding to $79.5 million. With this capital, Eventbrite will continue to develop the most simple, affordable, and innovative ticketing system on the planet.
"We started with a simple mission of making it easy for anyone to create, promote and sell out their event," said Kevin Hartz, CEO and Co-Founder of Eventbrite. "We've since been stunned by the size and variety of events that are now powered by Eventbrite. From a photography class to the Black Eyed Peas concert in Central Park, we are proving that our ticketing service is not only accessible to anyone, but also extremely powerful and dependable. This expansion capital will accelerate our transformation of the ticketing industry."
"Eventbrite has shown unprecedented growth in the past few years in its unique approach to developing an accessible ticketing platform for events of all sizes. We're excited to see the company take on this growing, global opportunity," said Lee Fixel, Managing Director at Tiger Global.
With this new infusion of capital, Eventbrite plans to expand and accelerate all company initiatives, including product innovation, global expansion and a more aggressive push into even larger-scale live events. The company will continue its focus on building sophisticated analytic tools, and maintain its leadership in social media integration to assist in event discovery. Eventbrite will continue to focus on mobile initiatives that, when coupled with the cloud-based platform, will make ticketing more nimble and powerful than ever before.
Eventbrite has helped over 120,000 event organizers in 150 countries host more than half a million events. Over 10 million people have attended an event ticketed by Eventbrite, and the company is on track to process nearly half a billion in gross ticket sales this year.
Eventbrite enables people all over the world to plan, promote, and sell out any event. And Eventbrite makes it easy for everyone to discover events, and to share the events they are attending with the people they know. In this way, Eventbrite brings communities together by encouraging people to connect through live experiences. Eventbrite's investors include Tiger Global, Sequoia Capital, DAG Ventures, and Tenaya Capital. Learn more at www.eventbrite.com.
About Tiger Global Management:
Tiger Global Management, LLC, is a privately owned investment manager. The firm manages a group of hedge funds and growth capital funds. Tiger Global Management was founded in 2001 and is based in New York, with an additional office in Beijing, China.
Vanessa Hope Schneider