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Eventbrite Soaring 60% After Market Debut

This year we have seen some great performing technology-based IPO’s hit the market such as DocuSign, Smartsheet, and Zuora.  These initial public offerings have shown returns of 78%, 112%, and 63% gains respectively.

You may have missed it, but there was another technology-based IPO just this week for a company involved in online ticketing.

Eventbrite (NYSE:EB) had their initial public offering at $23 and effectively sold 10 million shares raising the company $230 million.  Initially the company was estimating their share price at the $19 to $21 range but raised it to the $21 to $23 range on Tuesday.  This raise gave Eventbrite an implied valuation of $1.76 billion.

Earlier today, the company saw its exchange debut on the New York Stock Exchange (NYSE).  Shares opened at $36.50 a share and have climbed to highs of $38.70 in less than an hour.  This marks over a 60% return on the initial public offering price of $23 a share. Shares of Eventbrite are currently trading in the middle of their daily-range at $37.33 a share, up from their IPO price of $23 a share.

It seems investors are interested in what Eventbrite has to offer in the online ticketing sector as entertainment sales rise globally.  The company has been in business for 12 years and is one of the leaders in online ticket providers currently.

The company has also been on a run of acquiring companies in their space to strengthen their offerings.  Recently Eventbrite purchased Ticketfly from Pandora Media Inc for $200 million.  Being in the position they are in, SharePosts Rohit Kulkarni stated that Eventbrite themselves could be a worth acquisition candidate for companies such as Live Nation.

Do you think Eventbrite has what it takes to compete against Live Nation and Ticketmaster?  Or will they get eaten up by the big-dogs?



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