Eventbrite Raises $50 Million In Series E Funding
San Francisco based Internet ticketing company Eventbrite has raised $50 million in Series E funding. This round of funding was led by Tiger Global. Eventbrite has raised a total of $79.5 million in funding thus far.
This past summer Eventbrite sold 60,000 tickets for a Black Eyed Peas concert in Central Park. Eventbrite plans on using the funding for international expansion and for building technical infrastructure.
“TicketMaster has a different focus than we do,” stated Eventbrite CEO Kevin Hartz. “It serves a very small niche of the ticketing world – the largest and most complex sporting and entertainment sectors.”
“This will be part of a much larger business of being the ticketing platform broadly for all events of all shapes and sizes,” added Hartz. Eventbrite takes a 2.5% cut for each ticket they sell plus 99 cents per ticket sold through their website.
[NYT]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry