*By Bridgette Webb*
Online ticketing service Eventbrite has filed to go public in a plan to raise $200 million through its IPO. And for Wall Street Journal reporter Katie Roof, now is the time for other companies to follow suit.
Roof said Friday in an interview on Cheddar the bull market is drawing companies to market. "I think for any company interested in going public, right now would be a good time," she said.
Founded 12 years ago by married couple Julia and Kevin Hartz, Eventbrite offers ticketing services and personalized event invitations.
With its IPO, the company will join a group of tech names that took to the markets this year, including Spotify, Dropbox, and DocuSign.
But it's not necessarily all uphill from here.
Eventbrite faces imposing competition from large ticketing companies like Ticketmaster owner Live Nation and personal invitation platforms like Evite and Paperless Post.
And, of course, there's always a chance that tech heavyweights like Facebook and Google will enter Eventbrite's lane.
Adding to the complexity, Facebook is a key distribution partner for Eventbrite. That actually creates risk, since Facebook has the power to change features that Eventbrite may need for its success. For example, the social media platform recently removed a feature that allowed creators to include multiple hosts on a single event. The decision was a poor one for Eventbrite; fewer hosts means fewer guest invites, limiting the potential revenue that could be brought in.
The company hasn't been profitable yet, but Roof said it's not a deterrent for some investors.
"The revenue is growing, they are on track to hit over $200 million in revenue this year," she said.
"Sometimes Wall Street investors are not so concerned with profitability as long as they see top-line growth."
For full interview [click here] (https://cheddar.com/videos/eventbrite-files-for-ipo).
Astronauts will have to wait until next year before flying to the moon and another few years before landing on it. NASA on Tuesday announced the latest round of delays in its Artemis moon-landing program.
The Biden administration has enacted a new labor rule that aims to prevent the misclassification of workers as independent contractors. The labor department rule going into effect Tuesday replaces a scrapped Trump-era standard that lowered the bar for classifying employees as contractors
The KC-46 was to be the ideal candidate for a fixed-price development program. Instead, it has cost Boeing billions, and made industry wary of such deals.
Dave Long, CEO and Co-Founder of Orangetheory Fitness joins Cheddar to chat trends in the industry for 2024. He updates us on the company's plans to expand and what the state of the economy has meant for business.
One of the world's largest renewable energy developers will be getting hundreds of wind turbines from General Electric spinoff GE Vernova as part of a record equipment order and long-term service deal.
A moon landing attempt by a private US company appears doomed because of a fuel leak on the newly launched spacecraft. Astrobotic Technology managed to orient the lander toward the sun Monday so its solar panel could capture sunlight and charge its onboard battery.
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.”
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
