*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).
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
