The Ledger
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Mitch Thrower: 'Do what you love' advice is flawed without value flow
“That whole concept of do what you love and the money will follow is wrong. It's find what in the area that you love where value is moving from point A to B and insert yourself in the middle and help facilitate the process as opposed to just going out and rando…”
Events.com has raised over $50M and is closing a $70M+ total round
“We've raised over fifty million and we're about to announce a round that takes us over seventy million and that includes the acquisitions.”
Mitch Thrower advises founders to use rolling raises to deploy capital immediately
“If you do a rolling raise, the difference is if you're raising capital and let's say raising ten million, you may only be able to use that ten million when you get it to ten million. If you do a rolling raise, you get the first million, you can use it and grow…”
Thrower: COVID-19 caused a $3B drop in event management software
“You know, there's three billion dollar drop out of the event management software business.”
Thrower: 5% to 8% of global event organizers will fail post-COVID
“And some, we expect around five up to eight percent of the event organizers globally will actually just not make it through.”
Thrower: Events.com integrates external video stacks rather than building native video
“From a video tech stack, we actually, we refer folks and integrate with other video tech stacks. So when people are powering their event from a virtual perspective, they will use our system to do everything from registration, sponsorship management, marketing,…”
Mitch Thrower: Events.com acquired its domain name from CBS
“And the events.com domain name is one that we acquired from CBS. Believe it or not, it was originally owned by Bill Gross, not Pimco Bill Gross, but Idealab Bill Gross.”
Events.com generated about $1.4M to $1.5M in its first 12 months
“So, I mean, in the first 12, we were probably in the maybe million and a half range, somewhere in there, 1,000,004.”
Events.com plans to announce three acquisitions within two to three quarters
“One of which we did in 19 and didn't announce one of which actually the other three, which we're about to announce, I would say within the next two or three quarters.”
Thrower: Events.com generated $16.8M combined revenue in 2019
“Combined entities were for 19, about 16.8... 16, 16.8 million.”
Thrower: New Zealand broke 16-year event attendance records post-lockdown
“When New Zealand opened up again, After their first lockdown, which was abbreviated compared to the rest of the world, they broke 16 year attendance records at their events and have maintained like a 20 to 30% increase in the people that are going to out and e…”