StubHub Working on $16.5 Billion+ IPO — Potentially by Summer

StubHub IPO
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StubHub IPO
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Photo Credit: StubHub

A new report suggests ticket seller StubHub is looking to make an initial public offering (IPO) this summer, valued at $16.5 billion.

That valuation is based on StubHub’s last round of private funding in 2021. The Information reports that the ticket company has been working with JP Morgan and Goldman Sachs over the last two years for the potential IPO.

StubHub launched in 2000 as a online ticketing hub before being bought by eBay in 2007 for $310 million. Founder Eric Baker re-acquired the company in 2020 for $4 billion through his company Viagogo. Companies like StubHub, Vivid Seat, SeatGeek, and Live Nation have all benefitted from the major boom in live ticketed events following the COVID-19 pandemic. Fans eager to see Taylor Swift’s latest tour put her on the Forbes Billionaires list—primarily from ticket sales.

A peek at the competitor’s landscape reveals SeatGeek was last valued at $1.35 billion, Vivid Seat at $1.2 billion, and Live Nation at $24 billion. A potential IPO at a $16.5 billion valuation would position StubHub firmly in second place behind Live Nation as the biggest player in the ticketing game.

Seat Geek filed for an IPO while meeting with regulators in 2023—but so far nothing has come of it. The company previously attempted to go public via SPAC merger with RedBall Acquisition Corp.; however, both companies agreed to terminate the deal in June 2023 “due to market conditions.” That merger would have valued SeatGeek at $1.35 billion.

StubHub’s public debut would mark a significant turnaround for the company under Baker’s leadership. The IPO could potentially energize the market and other firms considering going public. It may also be the catalyst competitors need to follow, as SeatGeek has been flirting with a potential IPO for just about as long as StubHub now.

It’s also worth noting that ticketing reform is something that is on the Congressional radar with the ‘Fans First Act‘ aimed at preventing automated bot purchases and high speculative ticket prices.