I am surprised at the poor economics behind Eventbrite. In 2019, they lost a cool $26 million with a -21% margin. What are their major unit cost items? At the risk of sounding ignorant, isn't it just a website?
A website with a gigantic sales and account management apparatus behind it. The costs are centered around acquiring and retaining users/customers, including a big customer support footprint.
They all have some element of their business which doesn't meaningfully scale exponentially.
What does EventBrite have that would be like that?