The Hartz’s, a husband and wife team, have raised an additional $60 million in funding for their San Francisco-based online events platform, placing the odds of an IPO further over the horizon.
Kevin and Julia Hartz, the husband and wife team who co-founded the online events platform Eventbrite in partnership with Renaud Visage have conscripted an additional $60 million in venture capital, taking their total funding since the company was founded in 2006 to $200 million.
According to a statement issued by the company this latest round of funding will be utilized to push for international expansion under the auspices of Renaud Visage as well as product development which is Julia Hartz’s particular area of responsibility.
Like a number of other San Francisco-based online focused organizations Eventbrite is preferring to absorb venture capital as necessary rather than take an early path to the stock exchange with an IPO, a move which their current investors obviously are in full agreement with.
This latest round of funding comes principally from existing investors Tiger Global Management and T. Rowe Price, and brings its current market valuation to near $1 billion, according to Forbes. This time around DAG Ventures, Sequoia Capital and Tenaya Capital, who have previously invested in Eventbrite, opted not to take part in the funding round.
In 2013, as a result of expansion and acquisition Eventbrite’s worldwide ticketing and event management platform enjoyed in excess of $1 billion in revenue, with the bulk of it made up from ticket sales.
Announcing the latest round of funding statement from the company expressed their satisfaction having such supportive and engaged investors. After working together and getting more insight into our business and traction, Tiger Global and T. Rowe Price proactively approached us about increasing their investment, and with Eventbrite being a responsible, global startup in a state of hyper growth, the company recognized the importance of having an appropriate level of investing capital to continue to execute our plant growth strategy and enjoy full control over our the company’s destiny.
Kevin Hartz is cofounder as well as CEO of Eventbrite. Before establishing the company Kevin was previously Cofounder and CEO of Xoom Corporation, an international money transfer company, covering more than 30 countries worldwide.
Hartz has been an active early stage investor and advisor to a number of the high-tech industries more successful startups, including Airbnb, PayPal, interest, TripIt and Flixster.
Kevin holds a BAS from Stanford University, as well as an MA from Oxford University (University College).
Julia Hartz graduated from Pepperdine University with a B.A. in Telecommunications. Julia is cofounder as well as President of Eventbrite whose particular role in the company is to maintain the productivity levels and growth of the management team at Eventbrite, and now their two associated companies. Her efforts at Eventbrite, succeeded in keeping the company among the Top 5 Best Places to Work in the Bay Area of San Francisco for two consecutive years according to a recent survey by the San Francisco Business Times.
Prior to co-founding Eventbrite, Julia was involved in the world of media working on development at MTV Networks and FX Networks where she involved in the production of these stations popular TV shows
Kevin and Julia Hartz live in San Francisco and combine their business activities with bringing up their two young daughters.