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US ticketing startup Eventbrite scores $50M in funding ahead of potential IPO
Eventbrite has closed $50 million in a new funding round from Tiger Global Management and T. Rowe Price. The event ticketing startup will use the capital infusion for its international expansion, according to TechCrunch.
The latest funding comes almost a year after the startup closed $60 million in a previous round. Dan Primack of Fortune reports that this round puts Eventbrite's value at more than $1 billion. The startup has been set to go public this year, but Primack suggested that the investment deal might push that plan to 2015, the report stated.
In 2013, Eventbrite posted $1 billion worth of gross ticket sales made through its platform. Aside from international expansion, Eventbrite will also use the new funding to develop its product on both consumer and organizer sides, the report added.
Eventbrite was formed by Renaud Visage, and Kevin and Julia Hartz in 2006. To date, the startup has raised a total capital of $190 million, TechCrunch reported.
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