How a Crisis Turned Julia Hartz Into the CEO Eventbrite Needed

Founding Principles and Early Vision

• Julia Hartz was the second youngest woman and the 21st female founder-CEO to take a company public. 0s
• Stepping into the role of CEO is described as a terrifying experience for which no one feels truly prepared. 7s
• Founders are advised to prioritize human conversations with customers over strategy, execution, and metrics. 13s
• Building a company requires navigating difficult moments to ensure long-term success rather than just achieving fame. 23s
• Eventbrite’s financial history includes bootstrapping, raising venture capital during the 2008 financial crisis, going public, and eventually returning to private ownership. 30s
• Effective founders are defined by their ability to learn from mistakes quickly and bounce back rather than avoiding errors entirely. 40s

Origins and Influences

• Julia Hartz began her career as an intern at MTV, where she witnessed the development, production, and execution of the first season and movie of Jackass. 1m25s
• The vision and persistence displayed by the creators of Jackass were described as unparalleled. 1m45s
• Eventbrite was co-founded in 2006 by Julia Hartz and her then-fiancé, Kevin Hartz. 2m15s
• Kevin Hartz’s background as an early investor in PayPal influenced the company's founding, specifically the motivation to democratize access to services. 2m45s
• The PayPal team’s work transformed the ability for consumers to pay one another, evolving from beaming money between Palm Pilots into a merchant processing platform that allowed anyone to become a merchant. 3m0s

Developing the Eventbrite Platform

• Kevin and his business partner, Alan Braverman, utilized the PayPal API to develop various applications aimed at democratizing different industry verticals 0s.
• Early projects included event ticketing, subscription payments for Yahoo Groups, and an international money transfer service for immigrants 0s.
• The international money transfer service gained traction and received funding from Sequoia Capital, leading the team to focus exclusively on that project and place other initiatives into maintenance mode 0s.
• Julia Hartz, who previously worked at MTV and FX Networks on original content such as Nip/Tuck, Rescue Me, and The Shield, joined the team after experiencing the palpable energy of a niche fandom meetup 0s.
• The experience of observing people connecting in real life influenced the founders' desire to facilitate such interactions, which they found difficult to replicate on screen 0s.

Early Growth and Mission

• Co-founder Renaud Vis, an engineer and photographer, was motivated by a desire to help individuals turn their passions into profit 0s.
• Michael Arrington and TechCrunch served as one of the earliest scaled customers, providing inspiration for the product by demonstrating that content creators wanted their audiences to interact with both the content and each other 0s.
• Kevin and Julia Hartz personally managed the check-in desk for the first TechCrunch Disrupt event, where they gathered direct feedback from attendees 0s.
• The core mission of Eventbrite was to democratize the ticketing industry, enabling anyone to sell tickets to events and bring people together for live experiences 0s.
• Eventbrite has been in operation for 20 years 42s.
• Despite the rise of social media, mobile technology, big data, and the emergence of virtual gathering options over the last 20 years, live events and human connection remain central to human needs 0s.

Pandemic Crisis and Resilience

• During the COVID-19 pandemic, Eventbrite experienced a severe crisis approximately 14 days after its onset, where the company was processing more refunds than revenue 0s.
• The financial impact of the pandemic was so significant that the company’s internal data dashboards, which were not designed to track negative revenue, ceased to function correctly 0s.
• Julia Hartz maintained the belief that human connection is a fundamental requirement, ranking just above physiological and security needs in Maslow's hierarchy of needs, even when the business model faced a "black swan" event 0s.

Leadership Transition and Challenges

• Julia Hartz assumed the role of CEO in 2016 after Kevin Hartz stepped down 42s.
• Julia Hartz described the initial experience of becoming a CEO as "terrifying" and noted that many leaders, regardless of their experience level, often learn while building the company 42s.
• Early investor and board member Roelof Botha cautioned Julia Hartz during her transition to CEO by telling her to "be careful what you wish for" 42s.
• Between 2016 and 2019, Julia Hartz struggled with self-doubt and frequently questioned whether she was prepared for the role or if she was performing tasks as her predecessor would have 42s.
• The onset of the COVID-19 pandemic forced Julia Hartz to stop questioning her readiness and instead focus on leading the company through the crisis 42s.
• Eventbrite acquired its largest competitor in the music category in 2017 and went public in 2018 42s.
• The year 2019 was characterized by efforts to manage growth, scale the business, and increase organizational focus 42s.

Navigating Remote Work and Restructuring

• By March 13 or 14, 2020, Eventbrite employees had vacated their offices in response to the pandemic 2m6s.
• At the start of 2020, Eventbrite operated out of a 50,000-square-foot office that was experiencing significant overcrowding 0s.
• Julia Hartz was the final person to leave the office when the company transitioned to remote work, an action she attributed to the influence of her father’s servant leadership style 15s.
• During the first remote team meeting via Zoom, Hartz observed that employees were anxious and dealing with domestic distractions, such as children and pets 42s.
• Hartz established a new cultural norm for the team, instructing employees to stop apologizing for the presence of their children or pets during work calls 55s.
• To foster creativity and address organizational stagnation, Hartz asked her team to identify what they would do differently if they could rebuild the business from scratch 1m15s.
• The team successfully produced a one-page document outlining a new strategy, which helped the company shed "barnacles"—inefficient processes, ego-driven projects, and "sacred cows"—that had accumulated during the company's growth 1m30s.
• By April 2020, Eventbrite had fully restructured and reset its strategy, providing the company with a clear direction to navigate the anticipated long-term hardship 2m6s.
• Key leadership lessons identified by Hartz during this period included the necessity of having the bravery to rethink core concepts, taking bold leaps during uncertain times, and planning for the worst-case scenario 2m18s.

Fundraising and Investor Relations

• Eventbrite was initially bootstrapped by its three co-founders using their own personal funds, which involved significant personal financial risk 10s.
• During the first two and a half years of operation, the company spent less than $250,000 and relied primarily on the co-founders and a few contractors 35s.
• The company secured an initial angel round from friends, family, and early investors to bridge the gap to their first institutional fundraising 52s.
• When the founders sought venture capital, they possessed product-market fit, traction in early categories, a clear path to scaling, and profitability 1m2s.
• The attempt to raise venture capital in the fall of 2008 resulted in 27 rejections from 27 different venture firms 1m18s.
• Kevin, a co-founder, maintained transparency by leaving the company's 2009 operating plan with every venture partner they met during the fundraising process 1m30s.
• Despite the financial crisis, 2009 became a successful year for Eventbrite because the company was lean, efficient, and operated out of necessity 1m55s.
• During the financial crisis, business grew as people began teaching classes to earn money, attending more networking events to find employment, and seeking social interaction 2m10s.
• In the fourth quarter of 2009, the founders returned to a select group of the original 27 venture firms to present their results, which exceeded the projections they had previously shared 2m35s.
• Eventbrite chose to partner with Sequoia, a firm that had previously funded Kevin’s earlier company, Zoom, and Roelof Botha joined the board as a result 2m55s.
• Securing Sequoia as an investor made it easier to attract other prominent investors, such as Lee Fixel and Henry Ellenbogen, to support the company's growth toward an IPO 3m35s.
• Founders should not interpret a rejection from an investor as a permanent "never," as it is possible to return to investors later with new results and a proven thesis 0s.

Strategic Communication and Growth

• When pitching to investors, it is effective to address the most obvious and uncomfortable questions immediately to remove them from the conversation 42s.
• Julia Hartz and her husband, Kevin, faced skepticism when starting their company because they were a couple, which was not considered common or favorable at the time 42s.
• To address concerns about their working relationship, the couple proactively presented investors with an operating plan that detailed how they would divide responsibilities and handle potential conflicts 42s.
• Eventbrite grew through a self-sign-on machine that relied on a viral coefficient rather than traditional inside sales, which helped differentiate the company from competitors 42s.

Spousal Partnership and Mentorship

• Kevin Hartz served as CEO for the first 10 years of the company, followed by Julia Hartz for the subsequent 10 years 1m25s.
• Julia Hartz notes that while they successfully scaled the business, culture, and their relationship, she would not necessarily recommend the transition of the CEO role between spouses to others 1m25s.
• The transition of the CEO role between partners requires significant trust and communication, as the incoming CEO may struggle with self-doubt while the former CEO may find it difficult to step back from decision-making 1m45s.
• Julia Hartz experienced frustration during her first week as CEO because the role proved to be much more difficult than it had appeared while Kevin Hartz was in the position 1m45s.
• Despite the challenges of the transition, Julia Hartz viewed Kevin Hartz as a valuable mentor during her time as CEO 2m15s.
• Lee and Henry served as essential coaches and mentors during the early stages of Eventbrite, providing guidance that proved critical to the company's survival during the COVID-19 pandemic. 0s

Public Market Journey

• Eventbrite established the goal of going public once the company achieved specific revenue thresholds, reached a level of predictability, and demonstrated the ability to scale in a responsible yet aggressive manner. 15s
• The decision to pursue an IPO was driven by a desire for the transparency and validity associated with public companies, as well as the need to access public market capital. 25s
• Prior to the IPO, other public tech company CEOs advised against going public, but a commitment was made to embrace the process and avoid complaining about the experience. 42s
• The day of the IPO at the New York Stock Exchange was a significant celebration involving families, early employees known as "brightlings," and early customers. 1m15s
• During the IPO, it was noted that Julia Hartz was the second-youngest woman to take a company public and the 21st female founder-CEO to do so. 1m25s
• The New York Stock Exchange observed that the Eventbrite podium featured a record number of women, reflecting the company's long-standing 50/50 gender balance on its executive team. 1m45s
• The realization that these milestones were occurring in 2018 highlighted the persistence of glass ceilings for women in business. 1m55s
• Following the IPO, the company faced the challenges of a quarterly reporting cadence and an increased number of investors. 2m10s
• Operating as a micro-cap company in the public market presents difficulties, leading to questions regarding whether the associated overhead, time, and effort are justified by the investor base. 2m20s

Managing Public Company Obligations

• Julia Hartz initially anticipated that transitioning to a public company would consume the majority of her time with investor relations and public company obligations. 0s
• Effective CEOs do not need to overprepare for public company requirements if they possess a deep understanding of their business and numbers. 0s
• While investor relations involves a performative element, success is largely driven by business results, and the process can be managed by aligning with investor expectations. 0s
• To make the earnings process more engaging, the company implemented "camp earnings," a week-long collaborative event held during investor week that fostered team bonding and idea generation. 0s

Transitioning to Private Ownership

• Eventbrite experienced a significant shift in valuation, moving from a 1.67 billion dollar valuation at the time of going public to a sale price of approximately 500 million dollars. 42s
• The company faced extreme challenges, including a period where its value dropped below zero, before undergoing a rebuilding process amidst shifting market conditions. 1m15s
• Rather than dwelling on past valuation figures, which is viewed as unproductive and painful, the focus remains on the company's cultural impact, its value to customers, and its long-term sustainability. 1m15s
• The decision to take the company private was guided by the priority of ensuring the business remains valuable to customers and maintains strong top and bottom-line performance. 1m15s
• Despite acknowledging that the transition out of public markets at that specific price point was not an ideal outcome for a founder, the leadership maintains that the choices made were the right ones given the context of unprecedented events. 1m15s

Future Strategy and Capital Stewardship

• Julia Hartz expresses confidence in Eventbrite’s future as part of Bending Spoons, noting that the team’s focus on product and customer needs provides stability during periods of rapid change 0s.
• The current business landscape requires companies to think differently about product delivery, speed to market, and innovation opportunities 42s.
• Eventbrite has maintained its brand reputation over 20 years by consistently building products to meet customer needs rather than relying on heavy marketing spending 42s.
• To succeed in the current market, the company must be capable of dismantling and rebuilding systems quickly, a process that requires a massive disruptive moment 42s.
• While Eventbrite previously underwent a significant disruption and rebuild during the COVID-19 pandemic, the current market environment presents unprecedented challenges 42s.
• As stewards of capital, leadership prioritized the longevity of the business and the need to return capital to investors 42s.
• Julia Hartz and Kevin Hartz remained major shareholders throughout the company's journey and did not sell a meaningful amount of stock, which aligns their interests with those of long-term shareholders 42s.

Executing the Sale and Organizational Change

• The decision to transition the company was reached through a collaborative process with the board of directors, involving the consideration of difficult advice from experienced business leaders 42s.
• Although Julia Hartz was initially resistant to the transition, she became fully committed once it was determined to be the correct path for the business and its shareholders 42s.
• The transition process is acknowledged as difficult because the resulting changes impact the lives of many employees 42s.
• Managing the tension between creating value for customers and meeting shareholder expectations is a constant challenge 1m35s.
• Following every investor suggestion at the time it was proposed would have likely resulted in the company failing to survive 1m35s.
• While all investor feedback is considered valuable, the CEO must apply a critical, editorial lens to these suggestions because public market sentiment can shift rapidly 1m35s.

Investor Dynamics and Mission Focus

• Investors often present competing priorities that can appear disorganized, similar to a toddler choosing dinner, due to the noise and various factors influencing their perspectives 0s.
• A CEO must possess the backbone to listen to and respect investor feedback while ultimately leading based on what is right for the customer 0s.
• Deviating from the core mission, or "north star," has historically resulted in poor and painful outcomes 0s.
• The critical role of a CEO involves listening to feedback, even when it is awkward or feels personal, and making decisions that prioritize the customer 25s.
• The virtual events platform Hoppin raised billions of dollars during the COVID-19 pandemic but is no longer widely recognized, serving as a reminder that irrational capital allocation is irresponsible 55s.
• Despite pressure from investors to sell to competitors like Hoppin, maintaining confidence in the eventual return to live events proved to be the correct strategic path 55s.

Competitive Landscape and Market Position

• "Healthy paranoia" is defined as staying aware of competitors and understanding consumer needs while remaining focused on the company's mission and serving customers 1m25s.
• Competitors like Luma and Partiful are recognized for their product sense and effective execution of viral growth strategies, which can draw more people into the events space 1m25s.
• Acknowledging the strengths of competitors does not necessitate a belief that the business is failing 1m25s.
• Eventbrite maintains its position as the second-largest trafficked events ticketing site globally, with brand awareness and affinity that significantly exceed that of its competition 2m6s.
• Founders are encouraged to prioritize listening and learning from other founders, a practice that has proven beneficial 2m6s.
• Eventbrite has historically facilitated the gathering of people and provided platforms for others to build similar connection-based services, regardless of whether those services are competitors 0s.

Identity and Integration Lessons

• A primary challenge for founders building consumer-facing marketplaces is maintaining a clear sense of identity 25s.
• Eventbrite’s core identity and DNA were established as a creator-focused company, providing tools and enablement for creators to sell tickets to events 45s.
• As the company scaled, it faced difficulties by attempting to shift its identity toward a consumer-focused model, which caused confusion and led to the loss of some creator customers 1m15s.
• While a company can function as both a platform and a marketplace, it is essential to clearly define who the primary customer is and to be cautious when attempting to shift that identity 1m25s.
• During the acquisition of a major competitor in the music industry, Eventbrite underestimated the impact that migrating independent live music venues to its own platform would have on those venues' daily operations 2m6s.
• The migration process was driven by a sense of urgency because the competitor's platform was disintegrating, but the lack of clear communication and context led to confusion and a significant loss of trust 2m25s.
• The experience of migrating these venues was described as a disaster that took years to rectify, serving as a lesson on the dangers of being overly ambitious with integration timelines 2m45s.
• Founders are advised to prioritize human conversations with customers, even if it requires pausing strategy, execution, and metrics to listen and understand how to better support them 3m5s.
• Julia Hartz expresses skepticism toward the common business advice of "build fast, break things," suggesting that such an approach can come at the expense of customers 0s.

Final Leadership Tenure and Reflection

• Following the announcement of a definitive agreement to sell Eventbrite, Julia Hartz underwent a lengthy process involving regulatory, compliance, and closing procedures 42s.
• During a board meeting held shortly after the announcement, Julia Hartz observed that her leadership team appeared expressionless and demoralized, which caused her significant personal distress 42s.
• Julia Hartz emphasized the importance of maintaining "business as usual" during the transition period because corporate deals are subject to failure 42s.
• Upon realizing the impact the announcement had on her team, Julia Hartz addressed them the following day by acknowledging her lack of experience with such transitions and soliciting their guidance 1m25s.
• Julia Hartz established three core priorities for the team during the final months of her tenure: focusing on the needs of the customer, supporting one another, and maintaining a positive environment 1m25s.
• Reflecting on the two years preceding the deal, Julia Hartz characterized her leadership style as intense, stressed, and micromanagerial, noting that she had been driving the company with a "white-knuckle grip" 1m48s.
• After choosing to relinquish some control and adopt a less rigid management style, Julia Hartz observed that the organization began to perform better and receive positive feedback from employees 1m48s.
• Julia Hartz describes this shift in leadership during the final stages of her tenure as a humbling and significant lesson in management 1m48s.

Post-Professional Reset

• Julia Hartz has received approximately 27 business ideas from Kevin, who remains a supportive partner for potential future ventures 10s.
• Transitioning away from a structured professional life has been difficult, as Hartz has maintained continuous employment since the age of 15 42s.
• Hartz observes a contrast between her current lack of a rigid schedule and Kevin’s ongoing work routine, which involves making decisions or observations every 30 minutes throughout the day 42s.
• While the reduction in stress and the ability to treat a Tuesday like a Sunday is restorative, Hartz finds the absence of professional momentum to be a challenging adjustment 42s.
• Hartz is currently exploring AI as a hobbyist, specifically engaging with Claude Code, and is dedicating time to family responsibilities and personal relationships that previously lacked sufficient attention 1m25s.
• The current period of professional inactivity is viewed as a necessary reset, which Hartz compares to her childhood role as "Frozen Bunny number three" in a play, where she had to stand still on stage for an hour 1m25s.
• The goal of this reset is to learn, grow, and eventually start a new endeavor without allowing ego to influence the process 1m25s.
• Kevin has recently participated as a judge for the Startup Battlefield at TechCrunch Disrupt 2m6s.

Podcast Production Credits

• The podcast Build mode is produced and edited by Maggie Nye 0s.
• Isabelle Johannes serves as the host of the podcast 0s.
• Maggie Nye is responsible for the art and design of the podcast 0s.
• Morgan Little leads the audience development efforts for the program 10s.
• The Foundry and Cheddar video teams provide support for the podcast 10s.