Eventbrite sets IPO range of $19 to $21, valuing it at $1.8B

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.

Eventbrite just made some pricing changes as it moves toward an IPO

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.