September 18, 2006
Eventful Secures $7.5 Million in Series B Financing Led by Bay Partners
Previous Investors Draper Fisher Jurvetson, Omidyar Network and Esther Dyson Participate in Round as Company's Leading Events Web Site Gains Broad Consumer Adoption
SAN DIEGO, Sept. 18 -- Eventful, Inc., which operates Eventful.com, the leading global events web site, announced today it has secured $7.5 million in series B financing in a round led by venture capital firm Bay Partners. Previous investors including Draper Fisher Jurvetson, Omidyar Network and Esther Dyson also participated in the round. Neal Dempsey and Neil Sadaranganey, both with Bay Partners, will join the Eventful Board of Directors. Previously, Eventful raised $2.1 million in its Series A round, which was led by Draper Fisher Jurvetson and closed in March 2005. The funding will be used to continue building the team, including growing marketing, business development and engineering.
Founded in January 2004 by eBay veteran Brian Dear, Eventful has created the most comprehensive platform for searching, promoting and sharing events. The site enables its users to discover events in their area, promote events of all types and build friendships and community around events, performers and shared interests. The company also offers the unique "Eventful Demand" service which enables performers and their fans to create grass-roots campaigns to request performances in a particular city.
"Traditionally, finding relevant events has been a difficult and fragmented process. By creating an extremely elegant, easy-to-use solution, Eventful has fundamentally changed the way people go about locating, managing and sharing events," said Neal Dempsey, managing general partner at Bay Partners. "We are confident that Eventful's top notch management team has the experience and passion to build the next category leader."
Eventful gives users the ability to explore a comprehensive selection of hundreds of thousands of events ranging from concerts and sports to cooking classes and kids' activities. The company also provides users with alerts, feeds, personal calendars and reminders of upcoming events as well as personalized bulletins that show users what is happening nearby that matches their interests and preferences. Users can also connect with friends and join groups with like-minded members as well as see which events their friends and groups are considering attending.
"We are pleased to have Bay Partners as both investors and advisors in Eventful as we continue building the company," said Jordan Glazier, CEO of Eventful, Inc. "We continue to experience rapid, viral growth, and we are committed to delivering innovative resources, tools and services to our user community."
The board of directors now comprises of Eventful founder Brian Dear as Chairman of the board, Eventful CEO Jordan Glazier, Neal Dempsey and Neil Sadaranganey of Bay Partners, Josh Stein from Draper Fisher Jurvetson and private investors Thomas Sammon and Esther Dyson.
About Bay Partners, LLC
Bay Partners, LLC is an early stage venture capital firm located in Silicon Valley. The firm has been building successful technology companies since 1976, funding over 300 startups. Bay leverages the operating background of its partners and its extensive network of executives and advisors to help outstanding entrepreneurs create the leaders in new high-growth market segments. Notable successes from Bay's portfolio include Brocade, Concord Communications, Digital Island, Exodus, Sonicwall, Placeware, Informatica, Web Logic (BEA) and NetScaler. Bay has over $1 billion under management. For more information, visit http://www.baypartners.com.
About Eventful, Inc.
San Diego based Eventful, Inc., formerly EVDB, Inc., operates Eventful.com, the leading events website which enables its community of users to discover, promote, create and share events throughout the world. In addition to event discovery and promotion at Eventful.com, the company's underlying technology platform enables sharing, feeds and event data syndication to other websites, blogs, calendars and partners.
Posted by at September 18, 2006 12:00 PM