StubHub eyes summer time IPO, seeks $16.5 billion valuation

StubHub is eyeing a summer time preliminary public providing, an individual acquainted with the matter advised CNBC.

The net ticketing service is aiming for a valuation of at the very least $16.5 billion, which is what it was valued at in late 2021 throughout its newest spherical of personal funding.

The corporate has been working with JPMorgan and Goldman Sachs over the previous two years on the IPO. The Data was the primary to report the information.

StubHub has been a longtime participant within the ticketing trade since its launch in 2000. It was bought by eBay for $310 million in 2007, however reacquired by its co-founder Eric Baker in 2020 for $4 billion by his new firm Viagogo.

On-line ticketing rival SeatGeek has additionally reportedly been evaluating a possible IPO this yr. If StubHub does enter the general public market, it would commerce alongside rivals Vivid Seats and Live Nation. Vivid Seats has a market cap of $1.2 billion and Dwell Nation is valued at slightly below $24 billion, in keeping with FactSet.

The stay occasions market has bloomed within the wake of the Covid-19 pandemic, as folks have gravitated towards out-of-home leisure and experiences. Document-breaking live performance ticket gross sales, similar to these seen for Taylor Swift’s Eras Tour and Beyoncé’s Renaissance Tour, have fueled revenues for ticketing firms throughout the board.

StubHub, JPMorgan and Goldman Sachs all declined to remark about potential timing for an IPO.