Eventbrite, the ticketing and events platform, has not grown much in recent years|@eventbrite|X
Bending Spoons is set to acquire Eventbrite for $500 million, much less than the $1.76 billion it was worth in 2018.
Eventbrite, the ticketing and events platform, has not grown much in recent years. The company was founded in 2006 by Julia and Kevin Hartz and Renaud Visage, and has raised about $330 million from investors like Sequoia Capital.
Bending Spoon, which buys well-known but struggling tech companies, plans to make Eventbrite profitable by cutting costs, raising prices, and adding new features.
Eventbrite shareholders will get $4.50 per share, an 81% increase from the previous day’s price.
The deal values the company at about 1.7 times its recent revenue of $295 million.