StubHub plans to IPO this summer with a target valuation of at least $16.5 billion
StubHub plans to conduct an IPO this summer with a target valuation of at least $16.5 billion. StubHub is an online ticketing service company founded in 2000, acquired by eBay in 2007, and bought back by its founders for $4 billion in 2020. Its competitor, SeatGeek, is also evaluating the possibility of going public this year. If StubHub enters the public market, it will compete with Vivid Seats and Live Nation Entertainment. Following the COVID-19 pandemic, there has been an increased demand for outdoor entertainment and experiences, stimulating revenue growth for ticketing companies
According to sources familiar with the matter, StubHub is planning to conduct its initial public offering (IPO) this summer with a target valuation of at least $16.5 billion, which was the valuation at its most recent private funding round at the end of 2021. Over the past two years, the company has been working with JP Morgan and Goldman Sachs to prepare for the IPO.
Founded in 2000, the company was acquired by eBay (EBAY.US) for $310 million in 2007, but in 2020, it was bought back by its co-founder Eric Baker through his new company Viagogo for $4 billion.
Reports indicate that the company's competitor SeatGeek is also evaluating the possibility of going public this year. If StubHub enters the public market, it will compete alongside Vivid Seats (SEAT.US) and Live Nation Entertainment (LYV.US). According to FactSet data, Vivid Seats has a market value of $1.2 billion, while Live Nation is valued at nearly $24 billion.
After the COVID-19 pandemic, there has been an increasing trend towards outdoor entertainment and experiences. Record-breaking concert ticket sales such as Taylor Swift's "Eras Tour" and Beyoncé's "Renaissance Tour" have boosted the revenue of various ticketing companies