EDM Powerhouse SFX Entertainment Valued At $1.1 Billion For IPO
For better or worse, Robert Sillerman, brought us concert behemoth Live Nation. Now he hopes to do it again – for electronic dance music. His New York based SFX Entertainment, which controls Beatport, Tomorrowland, Sensation and other major EDM players yesterday announced the terms for their IPO. It puts the value of the company at $1.1 billion.
SFX will be offering 16.7 million shares priced between $11 and $13 dollars per share for a total value of $175-$200 million. The company also filed a request to be listed on the NASDAQ Global Market under the symbol SFXE.
SFX reported $185 million in sales for the 12 months that ended June 30, 2013