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SAN FRANCISCO, CA - Eventbrite, Inc. (NYSE:EB), a global ticketing and event technology platform with a market capitalization of approximately $200 million, announced the upcoming departure of its Chief Technology Officer, Vivek Sagi. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 1.51, indicating sufficient resources to meet near-term obligations. According to the company’s latest 8-K filing with the Securities and Exchange Commission, Sagi has informed Eventbrite of his decision to resign from his role, effective May 16, 2025.
The filing, dated May 5, 2025, states that Sagi will be leaving to take on an executive position outside of the company. He will remain in his current role until the effective date of his resignation to assist with the transition of his responsibilities. This leadership change comes as Eventbrite’s stock has experienced significant volatility, with the share price declining about 38% over the past six months. InvestingPro analysis suggests the stock may be currently undervalued.
Eventbrite has not yet named a successor for the CTO position. The company’s filing did not disclose further details regarding Sagi’s departure or any related compensatory arrangements.
Eventbrite’s business address is located at 95 Third Street, 2nd Floor, San Francisco, California, 94103. The company is incorporated in Delaware and operates under the SIC code 7370, which encompasses services in computer programming, data processing, and other related areas.
This news comes as part of the company’s current report filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. The information provided in this article is based on the statements made in the press release.
In other recent news, Eventbrite Inc. reported its financial results for the fourth quarter of 2024, revealing a wider-than-expected loss with an earnings per share (EPS) of -$0.09, missing analysts’ forecast of -$0.05. Revenue for the quarter reached $76.5 million, slightly surpassing expectations of $75.67 million. Despite the revenue beat, the company’s stock fell nearly 12% in after-hours trading. In addition, B. Riley analysts downgraded Eventbrite’s stock from Buy to Neutral and reduced the price target to $3.50 from $5.00, citing the company’s outlook for 2025, which fell short of consensus due to the anticipated continued impact from the loss of revenue following the reintroduction of free listings.
Eventbrite also announced a leadership change in its legal team, with the resignation of General Counsel Julia Taylor and the appointment of Lisa Gorman as her successor. The transition was disclosed in an SEC filing, though no reason was provided for Taylor’s departure. The company expressed confidence in Gorman’s ability to lead the legal team and contribute to Eventbrite’s ongoing strategies and initiatives. These developments are part of Eventbrite’s efforts to navigate a competitive landscape and achieve long-term growth.
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