Eventbrite (with Julia & Kevin Hartz)
Acquired25 Elo 2020

Eventbrite (with Julia & Kevin Hartz)

We're joined by two very special guests, Eventbrite CEO Julia Hartz and her cofounder, spouse and Eventbrite Chairman Kevin Hartz, to tell their story of building Eventbrite together (along with their lives and family) from the PayPal diaspora to bootstrapped business, unicorn status, IPO and now starting all over again in the wake of COVID with both a tragedy and a huge new opportunity in front of them as public company.


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© Copyright 2015-2025 ACQ, LLC


New! We're codifying our own Playbook notes and takeaways from each episode, and posting them here in the show notes and on our website. You can read them below or at: www.acquired.fm/episodes/eventbrite

Playbook

  • Seeing the next technology wave before others do is rare. It provides a roadmap for what to build and invest in if you're willing to bet on that knowledge.
    • Kevin worked at Silicon Graphics in the mid 90's. This led him to realize that internet services like PayPal, YouTube, and many others would be possible long before others (similar to Don Valentine realizing computers would penetrate every industry from his time at Fairchild).
  • PayPal and its subsequent "mafia" was successful in part because of rapid experimentation. They observed what got used by customers and then doubled down.
    • PayPal's "core" use case on eBay started as an experiment. International money transfer (Xoom) and event ticketing (Eventbrite) also initially started as experiments on the PayPal API before the eBay acquisition — and went on to become large companies.
    • Julia, Kevin, and their cofounder Renaud had a prototype of Eventbrite running and serving customers even before starting the company — which gave them the confidence to do what seemed crazy on paper, but was actually "de-risked": start a company as an engaged couple, have a remote technical cofounder, bootstrap for 2 years after being turned down by VCs, etc.
    • When a company is experiencing explosive growth, they often need to leave other huge opportunities on the table. PayPal knew international remittances could be huge, but didn't build it internally because of the need to focus on eBay merchants.
  • The TAM for bringing an offline behavior offline is often WAY bigger than anything you can calculate beforehand. The range and size of what were previously niche or impossible use cases will often expand dramatically with easy-to-use online tools. This is especially true in long-tail use cases that can only be aggregated by self-serve internet-based software.
    • One early encouraging sign for Eventbrite was its use to host speed dating events in New York. Before Eventbrite, it was nearly impossible to organize, promote, and charge for something like that. Now, organizers could suddenly become entrepreneurs and make real money hosting events like this. Most VCs ignored or were confused by this data (~"Call us when you attack Ticketmaster."), but they missed that it unlocked a massive new market which previously operated only through word-of-mouth and cash transactions (if at all).
    • All three major dislocations of the 21st century — the tech bubble bursting in 2001, the financial crisis in 2008, and now COVID in 2020 — have only accelerated offline behaviors to online. COVID is unlocking a new wave of online event entrepreneurs for Eventbrite in the same way the financial crisis unlocked a wave of in-person event entrepreneurs in 2008-10.
  • Starting with just one niche can be incredibly powerful; often your customers will then lead you to more.
    • Before the speed-dating in New York (which was fully inbound), Eventbrite was used to organize tech meetups in the then-smaller tech community in SF. It was even used for the first TechCrunch Disrupt!
  • Too much capital (and too little accountability) can hurt a company much more than help it. Capital covers up problems, distracts focus from customers, and leads to poor resource allocation.
    • Kevin: "The periods where we had raised the most money privately were the hardest and most difficult for me, because we were really fighting this gravity of overspending and creating inefficiency. And it took us away from our roots as a capital-efficient, highly-effective perpetual motion machine [that we'd had as a bootstrapped company]."
  • Being a public company not only instills more capital allocation discipline, but can ALSO afford a degree of financial flexibility that just isn't possible as a private company.
    • Within weeks of COVID hitting, Eventbrite dramatically shrunk the size and scope of the company AND raised $375m in new capital from new and longterm shareholders. Both actions would have been difficult to impossible as a private company with a static valuation (and associated anti-dilution, ratchet terms, etc) that no longer reflected the reality of the current situation.

Jaksot(205)

Season 2, Episode 9: GitHub

Season 2, Episode 9: GitHub

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6 Kesä 20181h 28min

Season 2, Episode 8: T-Mobile / Sprint

Season 2, Episode 8: T-Mobile / Sprint

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21 Touko 20181h 25min

Season 2, Episode 7: PowerPoint

Season 2, Episode 7: PowerPoint

Acquired returns with a classic, delving into Microsoft’s first acquisition ever: Forethought Inc, the makers of PowerPoint. Hate it or love it, you can’t deny the combined companies’ impact: by the early 90’s PowerPoint had transformed the way businesses, educators and governments communicate, ensuring job security for pointy-haired Dilbert bosses everywhere.Sponsors:Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnHuntress: https://bit.ly/acqhuntressMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCLinks: Robert Gaskins’ definitive history of building PowerPoint: Sweating BulletsAbsolute Powerpoint by Ian Parker Carve Outs:Ben: Mindfulness in Plain English and discussion on Hacker NewsDavid:  The Birds have landed…

4 Touko 20181h 19min

Season 2, Episode 6: Spotify’s Direct Listing

Season 2, Episode 6: Spotify’s Direct Listing

Acquired wraps up a big few weeks of coverage with not an IPO or an M&A or a fundraising round, but what’s still the largest tech exit in recent memory: Spotify’s $30B direct public listing. We dive into what it all means and how we got here: from Napster to iTunes to Facebook (and even some Justin Timberlake thrown in for good measure). Acquired FM is on the scene and spinning all the hits from this new wave music industry titan! Note: We incorrectly described Spotify CEO Daniel Ek’s ownership stake in Spotify as 25%+; that is actually his voting control. His economic ownership is 9.3%, and cofounder Martin Lorentzon’s is 12.4%. We apologize for the error!Sponsors:Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnHuntress: https://bit.ly/acqhuntressMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCLinks: Internet History Podcast on the Napster Story with Jordan Ritter Sean Parker’s email to Daniel EkCarve Outs:Ben: Black Panther (and  soundtrack on Spotify!)David: “Silicon Ballet” panel at San Francisco Ballet on Saturday, April 28

6 Huhti 20181h 49min

Season 2, Episode 5: The Dropbox IPO

Season 2, Episode 5: The Dropbox IPO

Acquired is live on the scene following Dropbox’s public market debut. From playing a central role in the early days of Y Combinator, to having Steve Jobs famously label the company a “feature not a product”, to pivoting from consumers to enterprise to developers and back again, the silicon valley history runs deep with this one. What twists and turns lie ahead for Dropbox as a public company? We speculate!Sponsors:Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnHuntress: https://bit.ly/acqhuntressMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCLinks: Dropbox’s Y Combinator applicationOriginal Dropbox demo videoCarve Outs:Ben:  Raytracing comes to DirectXDavid: Lazy Game Reviews

26 Maalis 20181h 42min

Season 2, Episode 4: SoftBank, Fortress and the Vision Fund

Season 2, Episode 4: SoftBank, Fortress and the Vision Fund

Acquired dives into the topic on the minds and lips of just about every VC and founder these days: SoftBank’s $93B+ Vision Fund, and its seemingly-overnight rewriting of the rules of venture capital and startup fundraising. Where did this new 800lbs gorilla come from, what are its goals, and what does it mean for the future of silicon valley and the global tech ecosystem? The answer, it turns out, starts with an acquisition, and unfolds into a story no one has yet told and few yet understand. Luckily our heroes are on the case!Sponsors:Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnHuntress: https://bit.ly/acqhuntressMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCLinks:Masayoshi Son on Charlie RoseCarve Outs:Ben:  eBoys: The First Inside Account of Venture Capitalists at WorkDavid: Liu Cixin’s Remembrance of Earth’s Past trilogy (starting with  The Three-Body Problem)Bonus: shout out to Brian McCullough’s new podcast the  Ride Home, in partnership with TechMeme!

23 Maalis 20181h 32min

Season 2, Episode 3: Nest

Season 2, Episode 3: Nest

Acquired brings it all back home—to the smart home that is—with Google’s 2014 acquisition of Nest for $3.2B. From Nest cofounder Tony Fadell’s first job at General Magic (alongside future Android founder Andy Rubin) to his days as “father of the iPod” under Steve Jobs at Apple, the Silicon Valley history runs deep with this one. But did that make the acquisition a good move for Google in the coming battle with Amazon’s “Lady A” for control over consumers’ homes? We dive in!Sponsors:Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnHuntress: https://bit.ly/acqhuntressMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCLinks:Tony Fadell in the Academy of AchievementSteve Jobs deleting Tony Fadell from his FavoritesCarve Outs:Ben: Do by Friday podcastDavid: A Kingdom from Dust By Mark Arax in The California Sunday Magazine

20 Helmi 20181h 37min

Season 2, Episode 2: Raising a Seed Round with Against Gravity CEO Nick Fajt

Season 2, Episode 2: Raising a Seed Round with Against Gravity CEO Nick Fajt

We launch mini-series on Acquired with a subject near & dear to our heroes’ hearts: startup fundraising! This has been one of our most-requested new topics, and we’re excited to kick things off with makers of the popular Rec Room social VR app, Against Gravity, which raised one of Seattle’s hottest venture rounds in recent history: a $4m seed led by Sequoia Capital in 2016. CEO Nick Fajt joins to tell the story from company inception to building and shipping the initial product, fundraising as a first-time CEO, what they’ve been able to accomplish with the capital and their vision for the future. We had a blast touching on many classic Acquired themes for the first time “in-action” with a young, growing company, and hope you all enjoy the discussion as much as we did. Let us know what you think in the Slack!Sponsors:Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnHuntress: https://bit.ly/acqhuntressMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCCarve Outs:Ben:  Ready Player OneDavid:  Seveneves Nick: The Legend of Zelda: Breath of the Wild

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