Ticketing company StubHub was reportedly planning to become a publicly traded company, with an initial public offering by late summer, however, new reports found the deal will be delayed until after Labor Day.
According to CNBC, a person familiar with the deal said stagnant market conditions have led the company to postpone its efforts. Over the past few months, there haven’t been any major consumer IPOs, leaving investors less likely to jump at the opportunity.
As previously reported, StubHub has been working towards the goal of going public for the past two years, working alongside JPMorgan and Goldman Sachs — and has even filed confidentially filed paperwork with regulators. The ticketer is hoping to see a valuation of $16.5 billion, matching the valuation it saw during its 2021 fundraising round.
If successful, StubHub would follow suit of Vivid Seats (NASDAQ: SEAT) and Live Nation Entertainment (NYSE: LYV) as public traded entities in the live events ticketing space. They are valued at $41.2 billion and $24 billion, respectively. Additionally, SeatGeek recently announced their consideration to move public; last month, it added CitiGroup and Wells Fargo to its planned IPO, slated to take place towards the end of the year.
Since its launch into the ticketing world in 2000, StubHub has been a top player in the industry. In 2007, it was purchased by eBay for $310 million and then purchased by viagogo in 2019 for $4 billion.
StubHub has not commented on the newly-released report.
Recent Posts
Get TicketNews to Your Email Inbox!
By submitting this form, you are consenting to receive marketing emails from: TicketNews. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact