Bloomberg is reporting that StubHub Holdings, which operates StubHub in North America and Viagogo, is making plans to go public. The company, which was formed with Viagogo’s 2020 purchase of StubHub from former parent eBay, has reportedly confidentially filed paperwork with the U.S. Securities and Exchange Commission and could pursue a direct listing in 2022.
The company would be valued at more than $13 billion, according to Bloomberg’s sources.
StubHub had long been a division within a public company, as a part of eBay from 2007 until Viagogo, led its CEO and StubHub co-founder Eric Baker, purchased the ticket resale marketplace for $4 billion in 2020.
A return to public trading would make StubHub either the second or third ticketing company to make such a move in a matter of months, following Vivid Seats – which went public via a merger with Horizon Acquisitions Corp. in 2020. SeatGeek is in a similar process to go public, having announced a planned merger with RedBall Acquisition Corp. in 2022.
StubHub had a rough go during the COVID-related shutdown, as UK regulators held up the merger over concerns regarding competition. Eventually, an agreement was reached where StubHub would sell its non-North American business arms to ensure that the Viagogo/StubHub combination would not hold too large of a share of the UK and EU market for secondary tickets under the same corporate umbrella. It also drew harsh criticism and legal action over changes to its refund policies for cancelled events, only allowing consumers to receive credits towards future purchases within its own marketplace rather than a cash refund.
The company’s fortunes have since improved as the COVID shutdown has been rolled back. Moody’s improved its outlook on StubHub’s debt to positive in mid-2021, saying the company would likely see close to pre-pandemic revenue levels in 2022.
StubHub has not yet made any public statement’s regarding the potential for a public offering, or commented or Bloomberg’s story. TicketNews will update as more information becomes available.