StubHub Announces IPO Filing as Secondary Ticket Revenue Soars 29% in 2024
StubHub has filed for an IPO on the New York Stock Exchange under the ticker 'STUB,' with plans to go public amid growing secondary ticketing sales.
The secondary ticketing marketplace reported $1.77 billion in revenue for 2024, a 29% increase from 2023, though it posted a $2.8 million net loss compared to the previous year's $405 million profit. The platform facilitated the sale of over 40 million tickets globally from approximately one million sellers in 2024.
StubHub's journey includes its 2000 launch, $310 million acquisition by eBay in 2007, and $4 billion repurchase in 2020 by Co-Founder Eric Baker through Viagogo. The two companies completed their business integration in 2022.
Major shareholders include Madrone Capital and Bessemer Venture Partners. The IPO, led by J.P. Morgan and Goldman Sachs among ten Wall Street banks, aims to generate funds for debt repayment and general purposes.
In the competitive landscape, rival SeatGeek filed for an IPO in April 2023, with a valuation exceeding $1.35 billion. The company, backed by Citigroup, Wells Fargo, and Morgan Stanley, recently underwent restructuring with approximately 15% staff reduction.
This development marks a significant shift in the secondary ticketing market, as major players seek public investment to fuel growth and maintain competitive positions in the evolving live entertainment industry.