October 06, 2010 08:00 ET
Eventbrite Raises $20M in Financing to Transform Online Ticketing
SAN FRANCISCO, CA--(Marketwire - October 6, 2010) - Eventbrite today announced that it has closed a $20 million Series D round of funding to accelerate the transformation of the ticketing industry. DAG Ventures led the round, with Tenaya Capital also joining as a new investor. Sequoia Capital, Eventbrite's only venture investor until now, continued their participation in the round. This brings the company's total funding to $29.5 million.
"We are changing the rules of ticketing," said Kevin Hartz, Co-Founder & CEO of Eventbrite. "We are building a powerful service from the ground up to transform how event organizers sell tickets and how consumers discover and buy tickets for events of all shapes and sizes."
2010 has been a break out year for the company, with projected $200 million total gross ticket sales. Eventbrite has already processed 7.5 million tickets this year, proving that the value of and passion around live experiences is alive and thriving now more than ever.
"Eventbrite is emerging as a significant consumer Internet brand," said John Cadeddu, Managing Director at DAG Ventures. "We invested in Eventbrite because of its explosive growth, massive market opportunity, its strong management team and the fact that it's one of the few companies demonstrating real revenue derived from social media. We are delighted to be a part of it."
Eventbrite focuses on empowering live experiences by providing a simple-to-use service that makes it easy for organizers to publish, promote and sell out events, and gives consumers a new way to discover events. Most recently, the company launched social event discovery, an effective and meaningful way to discover events which tightly integrates Eventbrite's massive database of events with an individual's personal social graph. This new "event graph" drives social event discovery and helps friends connect around live experiences by using the Facebook Connect APIs to let Eventbrite users share their upcoming events with their real world friends.
Eventbrite is the world's largest, fastest growing event ticketing company. Eventbrite empowers anyone to host successful live experiences of any type or size by providing an easy way to manage, promote and sell out the event. As the engine for a new generation of live experiences, Eventbrite brings together transactions with social interactions to allow events to live, flourish and gain momentum anywhere online. Eventbrite is privately held and backed by Sequoia Capital. For more information, go to www.eventbrite.com.