Champagne corks are a-flyin’ this morning at Eventbrite, where the online event ticketing company is about to announce that they’ve just sold their 100 millionth ticket.
All in all, that works out to $1.5 billion in gross ticket sales, up from a total of $1B sold by June of last year.
Nabbing your $1.5 billionth dollar is always an event worth celebrating, but what’s particularly interesting is the data sittin’ between the lines.
Eventbrite was founded in 2006. It took them around 5 years to make their first billion. In the past 9 months, however, they’ve made another half a billion. Some time in the past year or so, Eventbrite started doing really, really well.
For perspective: Eventbrite pulled in $207M in 2010, doubled that to $400M in 2011, and then bumped it up to $600M in 2012. Assuming they somehow manage to keep this rate of growth going, they could very well be slingin’ a billion dollars in tickets each year by the end of 2014.
You feel that, Ticketmaster? Thems the walls closin’ in.
Remember, however, that these numbers are for gross ticket sales. That is, they’re counting all of the money Eventbrite has taken in, not just the commission (2.5% plus a flat 99c fee) they keep in the end. We’ve asked the company for a better idea of their net take in, and whether or not they’ve reached profitability (as of July of 2012, they had not). We’ll update this post if we hear back.