Eventbrite, a provider of online ticketing services and personalized event invitations, announced plans to raise up to $200 million in an initial public offering.
The company, founded 12 years ago by Julia and Kevin Hartz, said in its prospectus on Thursday that it expects to debut on the New York Stock Exchange under the ticker symbol EB.
Eventbrite is poised to jump into a growing pool of tech companies to hit the market this year, including consumer companies Spotify and Dropbox and business software providers DocuSign, Zuora and Domo.
Eventbrite generates revenue by charging creators for the tickets people buy to attend events. Last year more than 203 million tickets were issued through the service.
The company reported it had a $15.6 million loss in the first half of the year. Revenue increased 61 percent to $142.1 million. For all of 2017, losses totaled $38.6 million on $201.6 million in revenue, which represented 51 percent sales growth from the prior year.
To jump deeper into music festivals and large events, Eventbrite acquired Ticketfly from Pandora last year for just more than $200 million. Net revenue in 2017 increased an additional $27.5 million as a result of the acquisition of Ticketfly and another company, Ticketscript. In June Eventbrite disclosed that a hacker had gotten a hold of Ticketfly data. Eventbrite disabled the service briefly in order to "contain the risk" of the event. As a result, Eventbrite recorded a $6.6 million liability for potential costs associated with the incident, almost all of which was a reduction in revenue.
Eventbrite sometimes pays fees to encourage creators to release tickets through its service, sometimes exclusively. In 2017 it spent $10.4 million on these creator signing fees, up almost 51 percent year over year.
As of June 30, Eventbrite had 1,016 employees. The company is based in San Francisco, and more than 10 percent of employees are based in Argentina.