Photo Credit: StubHub
Secondary ticketing marketplace StubHub has filed paperwork with the SEC for an initial public offering (IPO) to trade on the New York Stock Exchange under the ticker ‘STUB.’
In the prospectus paperwork for the IPO, the company said it had a net loss of $2.8 million on revenue of $1.77 billion for 2024. That figure represents an increase of 29% over 2023 numbers—with a swung into a loss versus generating profit. In 2023, StubHub generated $405 million profit on $1.37 billion in revenue.
The platform launched in 2000 before being purchased by eBay for $310 million in 2007. It languished under the online auction site until 2020, when Co-Founder Eric Baker repurchased the company for $4 billion through Viagogo. Baker founded Viagogo in 2006 after leaving eBay after the purchase of StubHub. In 2022, the two companies completed the integration of their businesses.
Digital Music News reported that StubHub was seeking a potential IPO last year—but decided to shelve those plans later in the year. StubHub sold more than 40 million tickets across the globe from roughly one million sellers in 2024—helping restore confidence despite the loss for the year. Its major shareholders include buyout firm Madrone Capital and venture capital firm Bessemer Venture Partners.
The company has brought on board over 10 Wall Street banks for the IPO. J.P. Morgan and Goldman Sachs are the lead underwriters on the IPO. Funds generated by the IPO will be used to repay debt and for general purposes.
Major competitor SeatGeek was eyeing a potential SPAC merger with RedBall Acquisition in October 2021. That deal was estimated at a $1.35 billion valuation. With a declining focus on SPACs, SeatGeek decided to put the deal on ice. The company then raised $238 million Series E funding led by Accel in August 2022.
In April 2023, SeatGeek filed for an IPO, though as of March 2025 the company has not yet completed the deal. Citigroup and Wells Fargo joined that IPO lineup alongside Morgan Stanley, with SeatGeek valued at more than $1.35 billion. Earlier this year, DMN reported on potential layoffs at the company with at least 15% of staff affected.
Content shared from www.digitalmusicnews.com.