StubHub is eyeing a summer season preliminary public providing, an individual accustomed to the matter advised CNBC.
The web ticketing service is aiming for a valuation of a minimum of $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 business 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 via his new firm Viagogo.
On-line ticketing rival SeatGeek has additionally reportedly been evaluating a possible IPO this 12 months. If StubHub does enter the general public market, it’s going to commerce alongside rivals Vivid Seats and Reside Nation. Vivid Seats has a market cap of $1.2 billion and Reside Nation is valued at slightly below $24 billion, in accordance with FactSet.
The dwell occasions market has bloomed within the wake of the Covid-19 pandemic, as folks have gravitated towards out-of-home leisure and experiences. File-breaking live performance ticket gross sales, akin to these seen for Taylor Swift’s Eras Tour and Beyoncé’s Renaissance Tour, have fueled revenues for ticketing corporations throughout the board.
StubHub, JPMorgan and Goldman Sachs all declined to remark about potential timing for an IPO.
