How Mitch Thrower Grew events.com Revenue to $16.8 Million with Strategic Acquisitions and a Unique Platform Approach

In the dynamic world of event management, Mitch Thrower, the co-founder and CEO of events.com, has navigated the challenges and opportunities to grow his company significantly. As the event industry transformed, Thrower’s strategic decisions and innovative solutions helped events.com reach an impressive $16.8 million in revenue by 2019. This blog post explores the journey of Mitch Thrower and the tactics he employed to achieve these revenue milestones.

2015: Venture Studio Model and Initial Revenue

Events.com began its journey not as a conventional startup but as part of a venture studio model. Mitch Thrower and his team were hunting for the next big idea, and by 2015, they had begun writing code for events.com. This year marked their initial launch as they focused on developing a comprehensive platform for event organizers to streamline their operations and enhance profitability.

Despite operating in a beta-like environment, events.com managed to generate approximately $1.5 million in revenue during its first year. The company was able to achieve this by bringing disparate systems used by event organizers—such as ticketing, marketing, and analytics—under one cohesive platform.

2015: $17 Million Raised for Strategic Acquisitions

To fuel its growth and support acquisitions, events.com raised $17 million in 2015. This capital was instrumental in acquiring companies that could complement their existing platform and expand their offerings. Thrower emphasized the importance of rolling raises, which allowed the company to utilize funds as they were raised, enabling them to act quickly and strategically in the fast-paced tech industry.

How events.com Grew to $16.8 Million Revenue by 2019

By 2019, events.com had grown its revenue to $16.8 million. This significant growth was driven by several factors:

• Comprehensive Platform: Events.com provided a single platform that integrated multiple event management functions, addressing the pain points faced by event organizers.
• Focus on Mid-Market: While serving large clients, events.com concentrated on the mid-market, which was underserved and required a robust yet flexible solution.
• Strategic Acquisitions: The acquisitions made in 2019 and earlier played a crucial role in expanding the company’s capabilities and market reach.

2019: Preparing for Further Growth and Expansion

In 2019, events.com was on the cusp of further expansion. The company had raised an additional $34.5 million by this time, which was used to support ongoing acquisitions and enhance their platform. Thrower anticipated that the company could reach $25 million in revenue in 2020 if not for the unforeseen impact of the COVID-19 pandemic.

COVID-19 Impact and Strategic Response

The pandemic in 2020 was a significant setback for the event industry, and events.com was not immune to its effects. However, Thrower and his team used this period to focus on acquisitions and expand into different geographic regions. They recognized the potential for growth as different parts of the world responded to the pandemic at varying paces.

Despite the challenges, events.com continued to support event organizers through integrations with virtual event platforms, allowing them to maintain engagement with their audiences even during lockdowns.

2020: Continued Investment and Future Outlook

As of 2020, events.com had raised over $70 million, with $25 million raised in the last six to twelve months. This capital was earmarked for strategic acquisitions and further development of their platform. Mitch Thrower remains optimistic about the future, with plans to announce significant acquisitions that will position events.com for continued success in the post-pandemic world.

With a team of 50, including 21 engineers, events.com is well-equipped to tackle the challenges ahead and continue its trajectory of growth. The company serves over 52,000 customers, offering a blend of subscription and per-event pricing models.

Conclusion: The Path Forward for events.com

Mitch Thrower’s leadership and strategic vision have been instrumental in events.com’s journey from a venture studio project to a leading player in the event management software industry. By focusing on the mid-market, leveraging strategic acquisitions, and developing a comprehensive platform, events.com has positioned itself for future growth and success.

As the world emerges from the pandemic, events.com is poised to capitalize on the renewed demand for both in-person and virtual events. The company’s ability to adapt and innovate will undoubtedly be key to its continued success in the evolving event landscape.

For more information on events.com, visit their GetLatka company profile or explore other companies in the United States and the Event Management Software industry. You can also learn about similar companies in our industry category page.