StubHub eyes summer IPO, seeks $16.5 billion valuation

StubHub is considering a summer initial public offering, a person familiar with the matter told CNBC.

The online ticketing service is aiming for a valuation of at least $16.5 billion, which is what it was valued at the end of 2021 during its latest private funding round.

The company has been working with JPMorgan and Goldman Sachs during the last two years in the IPO. The Information was the first to report the news.

StubHub has been a long-time player in the ticketing industry since launching 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 new company Viagogo.

Online ticketing rival SeatGeek has also reportedly been evaluating a possible initial public offering (IPO) this year. If StubHub enters the public market, it will be listed alongside its competitors. vivid seats and living nation. Vivid Seats has a market capitalization of $1.2 billion and Live Nation is valued at just under $24 billion, according to FactSet.

The live events market has flourished in the wake of the Covid-19 pandemic, as people have gravitated towards entertainment and experiences outside the home. Record concert ticket sales, such as those seen at Taylor Swift's Eras Tour and Beyoncé's Renaissance Tour, have boosted revenues for ticketing companies across the board.

StubHub, JPMorgan and Goldman Sachs declined to comment on the possible timing of an IPO.

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