Online ticketing platform Eventbrite announces $60m funding round

Michelle Kuepper 2013-04-22 15

US-based self-service ticketing platform Eventbrite has announced a $60m late-stage funding round from existing investors Tiger Global Management and new investors T. Rowe Price.

Founders Julia and Kevin Hartz told VentureVillage that this funding round will allow them to focus more on expanding in European markets and will stave off the need for an IPO. It’ll also be used to improve the mobile service and to develop the event discovery features. The founders are in Berlin at the moment and are speaking at the Next Berlin conference this week.

Currently, the platform faces tough competition in Germany from Amiando – which was sold to German professional social network Xing in 2010. Amiando controls about two-thirds of the activity in this area in Germany.

Eventbrite lets people plan, promote and sell tickets for an event. In March this year, the company announced it had achieved $1.5b in gross ticket sales since being founded in 2006. The company has received a total of $140m in funding so far – existing investors include Sequoia Capital, DAG and Tenaya.

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