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Shares of Eventbrite have doubled over the past year as investors banked on post-pandemic reopening leading to a swift recovery in the business.
Paid ticket volumes and revenue, however, still remain dramatically depressed versus pre-pandemic levels.
Eventbrite has leaned on smaller creators and online events in recent quarters. It's unclear if large-scale in-person events will make a return anytime soon.
Eventbrite already looks fairly priced at ~5x next year's revenue.