StubHub is considering an initial public offering this summer, a person conversant in the matter told CNBC.
The online ticketing service is expected to be valued at not less than $16.5 billion, which is the quantity it was valued at in late 2021 in the course of the last round of private financing.
The company cooperated with JPMorgan AND Goldman Sachs within the last two years on IPO. She was the primary to report this news.
StubHub has been a long-time player within the ticketing industry since its launch in 2000. It was purchased by eBay for $310 million in 2007, but reacquired by its co-founder Eric Baker in 2020 for $4 billion through his latest company Viagogo.
Online ticketing rival SeatGeek is also reportedly evaluating a potential IPO this 12 months. If StubHub does go public, it would trade with competitors Living seats AND Living Nation. According to FactSet, Vivid Seats has a market cap of $1.2 billion and Live Nation is price just below $24 billion.
The live events market has boomed following the Covid-19 pandemic as people gravitate towards entertainment and experiences outside the house. Record concert ticket sales, similar to those seen during Taylor Swift’s Eras Tour and Beyoncé’s Renaissance Tour, boosted revenues for all ticketing corporations.
StubHub, JPMorgan and Goldman Sachs declined to comment on the potential timing of the IPO.
Credit : www.cnbc.com
