Eventbrite just announced a new round of venture financing for the company and it is easy to see why VCs are excited by the company. Started in 2006, Eventbrite is now on track to process over $200 million in tickets sales and around 7.5 million individual tickets. Eventbrite revenues are estimated to be at north of $10 million – so they are, as they say, killing it.
More impressive is how they are driving traffic. Using the newest, coolest feature of Compete PRO – Traffic Composition – we can get a good look at how Eventbrite is getting it done.
The most interesting aspect of the picture above is the size of “Miscellaneous” category – about 32% of all traffic coming from there. Let’s dig in there a bit by zooming in to just that area.
Lots and lots of smaller websites like momdot.com and rickmahn.com. This shows the power of their model – they’re generating events, which are then promoted to niche audiences via a large collection of smaller websites. They’re empowering those small sites to easily create and charge for events, and those websites then turn around and provide the marketing power.
What’s fascinating to me about this is that the collective power of these sites even outperforms social media such as Facebook and Twitter – and it is growing – up 14%. The numbers also show that Twitter is increasing while Facebook is declining – perhaps suggesting an affinity between the more public model of Twitter verses the more private network of Facebook.
All this and spending almost nothing on paid search – that’s a model that a VC has to love.
Damian Roskill is the Managing Director of Marketing at Compete. Before Compete Damian was head of products for a video start-up and has worked in start-ups for most of his career. Damian's career aspiration is to be at one with the advertising universe. Damian can be found on Twitter as Droskill, or connect with him on LinkedIn at http://www.linkedin.com/in/droskill