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Eventbrite’s IPO should encourage tech companies to get out while they still can

Eventbrite is having one hell of a debut on the New York Stock Exchange this morning. Shares of the ticketing startup, founded back in 2006, have shot up over 50 percent in trading on the NYSE. After pricing its shares at $23 in its initial offering, investors have bid up the stock to a whopping $37, putting the company’s valuation at nearly $3 billion. $EB prices $23, opens $36 pic.twitter.com/cYgCuqbmh8 — (@hunterwalk) September 20, 2018 That’s well above where the ticketing company had hoped to be when it initially set terms for the public offering earlier this month. Eventbrite sets IPO range of $19 to $21, valuing it at $1.8B The company started trading priced above its share price and nearly doubled its valuation. And if Eventbrite can do it, really almost any later-stage startup should be thinking about the public markets right now. Performance for the San Francisco ticketing company has been… somewhat lackluster. As we noted when wrote about the company’s offering: Eventbrite is not profitable and has been losing money since 2016. According to the documents, it posted losses of $40.4 million in 2016 and $38.5 million in 2017. In the first six months of 2018, the company has posted a net loss of $15.6 million. The company is making changes to make up for some of those losses — at the end of August, it announced a new pricing scheme for its customers using the “Essentials” package. Its revenue is rising though, increasing from $133 million in 2016 to $201 million last year. Since the beginning of the year tech public offerings have been on a tear. As The Wall Street Journal noted in July, 120 companies had raised $35.2 billion on U.S. exchanges at that point — the best showing for public markets since 2014 and the fourth busiest year since 1995, according to the financial data and analysis service Dealogic. The state of the IPO market We’ve noted before that it’s a bit mind-boggling that investors and their portfolio companies wouldn’t be taking more advantage of these heady times. Nothing lasts forever (not even cold November rain) and certainly…

Meet the startups in the latest Alchemist class

Alchemist is the Valley’s premiere enterprise accelerator and every season they feature a group of promising startups. They are also trying something new this year: they’re putting a reserve button next to each company, allowing angels to express their interest in investing immediately. It’s a clever addition to the demo day model. You can watch the live stream at 3pm PST here. Videoflow – Videoflow allows broadcasters to personalize live TV. The founding team is a duo of brothers — one from the creative side of TV as a designer, the other a computer scientist. Their SaaS product delivers personalized and targeted content on top of live video streams to viewers. Completely bootstrapped to date, they’ve landed NBC, ABC, and CBS Sports as paying customers and appear to be growing fast, having booked over $300k in revenue this year. Redbird Health Tech – Redbird is a lab-in-a-box for convenient health monitoring in emerging market pharmacies, starting with Africa. Africa has the fastest growing middle class in the world — but also the fastest growing rate of diabetes (double North America’s). Redbird supplies local pharmacies with software and rapid tests to transform them into health monitoring points – for anything from blood sugar to malaria to cholesterol. The founding team includes a Princeton Chemical Engineer, 2 Peace Corps alums, and a Pharmacist from Ghana’s top engineering school. They have 20 customers, and are growing 36% week over week. Shuttle – Shuttle is getting a head start on the future of space travel by building a commercial spaceflight booking platform. Space tourism may be coming sooner than you think. Shuttle wants to democratize access to the heavens above. Founded by a Stanford Computer Science alum active in Stanford’s Student Space Society, Shuttle has partnerships with the leading spaceflight operators, including Virgin Galactic, Space Adventures, and Zero-G. Tickets to space today will set you back a cool $250K, but Shuttle believes that prices will drop exponentially as reusable rockets and landing pads become pervasive. They have $1.6m in reservations and growing. Birdnest – Threading the needle between communal and private, Birdnest is the…

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