Goldman Invests in Live Event Startup Ahead of Possible IPO

(Bloomberg) -- Live events platform Fever raised $227 million in a funding round led by Goldman Sachs Group Inc., a sign that post-pandemic live events can attract investor interest.

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Fever Chief Executive Officer Ignacio Bachiller Strohlein said the New York-based startup was valued at “just over a billion dollars” as part of the funding round, and had a “very clear path” toward an initial public offering.

“The demand for live experiences is higher than ever, despite the pandemic,” he said in an interview, but declined to say when or where a potential IPO might take place.

Founded in 2014, Fever sells access to attractions such as an “immersive” digital Van Gogh exhibition in London, and a ball themed around the Netflix Inc. series “Bridgerton” in Los Angeles, tickets for which are exclusive to the startup’s customers.

The live events industry has been battered by the pandemic over the past two years, forcing many establishments to rethink how they’ll attract audiences in future. But Michael Rapino, CEO of Live Nation Entertainment Inc., said in November that the return to live events was accelerating with “tremendous” pent-up demand.

Fever’s biggest single market is the U.S. and it’s active in about 60 cities around the world, including Paris, Madrid and New York, the company said in a statement on Wednesday.

Alignment Growth, Goodwater and Smash Capital participated alongside Goldman Sachs in the round.

Read more: London Is Leading a Post-Pandemic Theater Streaming Revolution

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