Eventbrite Raises $20M, Pushing e-Commerce to New Heights
Online events promoter and ticket outlet Eventbrite gets a $29.5 million fund for its Series D round of funding. The line up of investors is led by DAG Ventures, with new investor Tenaya Capital and standing sponsor Sequoia Capital.
Eventbrite sold 7.5 million tickets so far, and is looking forward to selling enough tickets to double the previous year’s revenue, amounting to $200 million. The site normally charges 2.5 percent of the ticket value and a $.99 ticket charge. Based on the figure, their revenue is over $7.5 million. The company will use the cash “to continue to grow the company and scale its product.” From smaller events, the company is targeting bigger events as well.
In their previous round during the fall, Eventbrite raised $6.5 million from Sequoia and Yelp co-founder Jeremy Stoppelman, who concealed the exact amount. Some of its other previous investors include The European Founders Fund, Bebo co-Founder Michael Birch and Youtube co-founder Jawed Karim.
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