Eventbrite lost one-third of its value after revealing merger struggles, now trading below IPO price

Eventbrite shed a third of its value Friday after revealing operational challenges around its Ticketfly acquisition.

Eventrbite beat revenue expectations for the fourth quarter and grew total paid ticket volume. But the North American music segment struggled, according to analysts with Stifel, in part due to migration challenges in integrating the Ticketfly platform into Eventbrite's existing marketplace. The integration"requires an intensive process where our team focuses on migrating existing customers as well as building platform enhancements," CEO Julia Hartz said on the company's earnings conference call.

"Eventbrite may have missed the June/July 2018 window for migration due to the security incident which prompted some customers to leave the platform that otherwise would have migrated. In addition, some competitors, looking to take advantage of the temporary setback have become aggressive with offers for some creators," analysts at Stifel said.

They’re fresh on NYSE. It’s way to early to make negative conclusions of the newbie company on the stock market.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Eventbrite plunges over 20% after earnings miss and weak guidance (EB) | Markets InsiderEventbrite crashes below its IPO price (EB)
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »

Elastic shares fall after software company's post-IPO lock-up period expiresSome tech companies that have gone public in recent years have seen their stocks hit after insiders have gotten the chance to let go of some shares. And nobody said limp or inert They will bounce back 🤖
출처: CNBC - 🏆 12. / 72 더 많은 것을 읽으십시오 »

Lyft just gave us the first look inside its financials — and they show widening losses as the company continues to growThe ride-hailing company made its IPO filing public for the first time on Friday.
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »

Company behind Florida migrant children camp drops IPO plansThe corporation behind a Florida detention camp for migrant children abandoned its plans to go public Tuesday as controversy grows around policies that lock up children crossing the Mexico border. The chairman of Caliburn International Corp., Thomas J. Campbell, sent a letter to the Securities and Exchange
출처: YahooNews - 🏆 380. / 59 더 많은 것을 읽으십시오 »