StubHub is gearing up for a summer initial public offering, with the aim of reaching a valuation of at least $16.5 billion, as per a source familiar with the situation. The online ticketing service previously achieved this valuation in late 2021 during its latest round of private funding. The IPO has been in the works for the past two years, with JPMorgan and Goldman Sachs spearheading the process.
Established in 2000, StubHub has been a prominent player in the ticketing industry. Originally acquired by eBay in 2007 for $310 million, the company was later reacquired for $4 billion by its co-founder Eric Baker through Viagogo in 2020. As StubHub prepares to go public, it will join the ranks of its competitors like Vivid Seats and Live Nation, who are already trading on the market. The resurgence of the live events marketplace following the Covid-19 pandemic, marked by robust ticket sales for major concerts, has significantly boosted revenues for ticketing firms.
With the backdrop of a revived live events sector, StubHub’s potential IPO is reflective of the ongoing demand for out-of-home entertainment experiences. Amidst speculation about the timing of the IPO, involved parties like StubHub, JPMorgan, and Goldman Sachs have chosen to remain tight-lipped on the matter for the time being. As the company gears up for this significant move, the entertainment industry anticipates how this development will impact the overall ticketing landscape.