The Stubhub Holdings Inc. ticket sales platform requested an initial audience that offers income growth and a small annual loss by 2024.
Stubhub had a loss of $ 2.8 million in revenues of $ 1.77 billion last year, compared to the net revenues of $ 405 million in revenues of $ 1.37 billion in 2023, according to its presentation on Friday before the stock exchange and securities commission. The company's 2024 profits from the company before interest, taxes, depreciation and amortization of $ 299 million, although below the previous year, in contrast to a loss of $ 57 million in 2022.
The New York -based company will not reveal the proposed size or price range for the sale of shares up to a future presentation when it is ready to start marketing the offer to investors.
Stubhub had prepared for an OPI last year after the sales of The Taylor Swift's The Eras Tour, just to postpone those plans that cite unfavorable market conditions, Bloomberg News reported in July.
Executive President Eric Baker, one of Stubhub co -founders, left before the business was sold in 2007 to Ebay Inc. for $ 310 million. Later, Baker founded Viagogo in Europe. In 2019, Viago agreed to acquire Stubhub for $ 4.05 billion. The agreement was completed the following year, with the combined company that continues to do business with both names.
Baker has 5.2% of class A shares and, with their class B actions that carry 100 votes each, has more than 90% of the vote power in the company before the offer, according to the presentation.
Madrone Partners LP has a 27% participation in the business and 2.8% of the vote power, while Westcap Management has an 11% participation and Bessemer Venture Partners has 9.6%. Madrone and Bessemer have the Board seats in the company.
In their tickets of tickets, Stubhub and Viagogo, the resale operations of tickets cover more than 200 countries, according to the Stubhub website.
The offer is being directed by JPMorgan Chase & Co. and Goldman Sachs Group Inc. along with more than 10 other banks. The company plans that its shares operate in the New York Stock Exchange under the symbols Stub.
Lipschultz and the roof write for Bloomberg, with the help of Gillian Tan.
