Stubhub is hoping for the summer to float the idea of a $16.5 billion initial public offering (IPO).
According to a report by The Information, the digital ticketing service has been working with banking heavyweights JPMorgan and Goldman Sachs for two years.
Stubhub IPO
Digital and online ticket sales have seen steady growth over the last decade. This is because apps and online services are becoming more accessible and portable to access music and sporting events.
Stubhub has been an established brand for several years and was already worth $16.5 billion in 2021. If they were to consider another round of public funding, Stubhub would need to raise at least the same amount to show investors that some growth has occurred over the last 3 years.
Founded in 2009, the company was an early market leader as the leading ticket purchasing brand in the United States and maintains numerous international offices. The company’s “Deal Core” system was the linchpin of a successful business strategy.
The Stubhub website proudly states: “For over 20 years, StubHub has been the leading marketplace for fans to buy and sell tickets. Today, we continue to offer you peace of mind with our exclusive FanProtect guarantee, first-class customer service and the best products.” Features that ensure we have your back. Combined with viagogo, we now cover over 90 countries around the world.”
The Covid-19 pandemic and the rapid acceleration of digitized services have also contributed to the success of companies such as StubHub, Vivid Seat, Live Nation and SeatGeek.
Base ticket prices for established names have skyrocketed following the pandemic. This is evident in Taylor Swift’s rise to the Forbes billionaires list and her record-breaking financial gain, the Eras Tour.
We reported on the top ten Forbes billionaires list and their earnings. The report also found that there are now more billionaires in America than ever before.
SeatGeek was most recently valued at $1 billion, Vivid Seat at $1.2 billion and Live Nation at $24 billion. Stubhub hopes to displace Live Nation as the biggest player in the ticketing business, but we’ll have to wait for more information on this potential deal with JPMorgan and Goldman Sachs.
JPMorgan and Goldman Sachs have not yet made any official comment on their involvement in StubHub.
Image: Ideogram.
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