StubHub is preparing for an IPO on the stock exchange
StubHub plans to list on the New York Stock Exchange. The ticketing platform has filed to go public and is preparing for an IPO.
It is worth noting that this is not StubHub’s first attempt at an IPO. In 2022, the company filed documents for a direct listing, but those plans did not materialise. In the summer of 2024, the company again considered an IPO but abandoned those plans. The reason for the change in strategy was problems in organising ticket sales for singer Taylor Swift’s world tour.
In terms of financial indicators, StubHub presented the following data for 2024:
– the platform’s loss for 2024 was US$2.8 million;
– revenue for the designated period was at US$1.77bn;
– gross sales were US$8.7 billion, a 27% increase over 2023 results;
– the number of unique sellers reached 1 million from over 200 countries;
– totaling more than 40 million event tickets purchased in 90 countries.
In 2023, StubHub had profits of US$405 million and revenues of US$1.37 billion.
Experts say the company chose the wrong time to go public. StubHub planned its IPO at a time when investors had lost interest in the live entertainment sector. The site’s main competitor, Vivid Seats, went public in 2021. Since then, the company has lost more than 76% of its initial share price.
Despite this, StubHub continues to attract investor attention. As the popularity of online sales increases and demand for live events recovers, the company hopes to regain interest in its offering.
About the company
StubHub offers ticket sales and exchanges for sporting events, theatre performances, concerts and other events. The platform acts as an intermediary between sellers and buyers. It earns revenue from commissions on ticket sales. Tickets for exclusive events can also be found on the platform.
The shareholders of StubHub are several large investors. These include Bessemer Venture Partners, which holds a 9.6% stake. In addition, Madrone Capital Partners owns over 27% and Westcap Management owns 11% of the shares. StubHub co-founder Eric Baker owns more than 5% of the company. Baker founded the service with Jeff Fluhr in 2000. He left the company before it was sold to eBay in 2007. The deal was valued at US$310m. In 2019, StubHub was bought by Viagogo for more than US$5 billion. The company founded by Baker became the owner.
