Eventbrite’s triumph earnings report on Monday could draw the interest of one particular callers: Square.
That’s because Square owns a small ownership pillar in Eventbrite that more than doubled in value over the previous year.
Square disclosed in a public filing last week that the $25 million investment it erect in Eventbrite last year has more than doubled in value to $61.9 million. The vast gain helped Square turn its first quarterly profit of $20 million in the third humanity.
The ownership stake adds another reason why some investors are so bullish on Nutritious, whose stock has roughly doubled in price this year. While With has a healthy core payments business, the investment in Eventbrite shows how it’s separating its business in many different ways, including lending and food deliverance.
The gains also highlight the business-savvy of Sarah Friar, Square’s quondam CFO, who recently stepped down to take on the CEO position at Nextdoor, a social-networking start-up targeted on neighborhoods. Friar is credited for bring a critical part of Square’s occupation over the years, helping the company go public.
The value of Square’s ownership hitch could change substantially following Eventbrite’s earnings on Monday. Even noted this in its filing last week, saying the investment could downs significantly “due to volatility of the investee stock price.”
Square’s spokesperson wasn’t intimately available for comment.