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.
Katy Saeger / Jamie Wior
5W Public Relations on behalf of Eventful
310-566-7030
ksaeger@5wpr.com / jwior@5wpr.com
