Bending Spoons, a company that buys and revitalizes stagnating tech companies, has agreed to purchase Eventbrite for about $500 million, a far cry from the $1.76 billion the company was worth when it went public in 2018.

Just like many of Bending Spoons’ previous acquisitions, including Evernote, Meetup, Vimeo, and AOL, Eventbrite has a strong brand, but the company’s business has stopped growing, according to audited financials.

The events marketplace and ticketing company was co-founded in 2006 by the husband-and-wife team, Julia and Kevin Hartz, and Renaud Visage. During its 12 years as a private business, the one-time tech darling raised approximately $330 million in venture capital from top investors such as Sequoia Capital and Tiger Global Management.

Unlike traditional privat

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