StubHub, a ticketing software company, is considering holding an initial public offering (IPO) before the end of the year, according to sources familiar with the matter. The company aims to raise over $1 billion in a public offering, despite a slow start to the tech IPO market this year. Other tech companies, such as CoreWeave and Discord, are also exploring public listings.
Founded in 2000, StubHub quickly grew as a ticket reselling site for various events. After being acquired by ViaGogo in 2019 for $4 billion, the company faced challenges when the Covid-19 pandemic hit, causing a significant drop in sales due to lockdowns. However, as restrictions lifted, StubHub saw a surge in business, with executives claiming that sales are still growing.
Last year, StubHub considered an IPO at a $16.5 billion valuation but postponed its plans due to a lack of similar public listings. Despite concerns about slower sales growth in the ticketing industry, StubHub remains optimistic about its business prospects, with gross ticket sales increasing by nearly 50% in the last quarter of 2024.
The potential IPO of StubHub reflects a resurgence of interest in tech IPOs on Wall Street, with the company testing investor appetite for a return of tech offerings. While the talks are still in the preliminary stages, StubHub’s plans could pave the way for more tech companies to explore public listings in the future.
Note: The image is for illustrative purposes only and is not the original image of the presented article.
