Stubhub is eyeing 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 partnered with banking heavyweights JPMorgan and Goldman Sachs over the past two years.
Stubhub IPO
Digital and online ticket sales have seen steady growth over the past decade. This is because apps and online services become more accessible and portable for gaining access to music and sporting events.
Stubhub has been an established brand for several years and was previously valued at $16.5 billion in 2021. If they are looking at another round of public funding, Stubhub would need to raise at least the same amount to show investors that some growth in three years.
Founded in 2009, the company immediately led the market as the leading ticket purchasing brand in the United States and maintains numerous international offices. The company’s “Deal Core” system has been the centerpiece of a successful business strategy.
The Stubhub site 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, best-in-class customer service and products features that keep you covered. Combined with viagogo, we now cover more than 90 countries around the world.”
The Covid-19 pandemic and the rapid acceleration of digitalized 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 exploded since the pandemic era. This can be seen in Taylor Swift’s rise to the Forbes billionaire list and her record-breaking financial gain, the Eras Tour.
We have reported the top ten entries in the Forbes billionaires list and their earnings. The report also found that there are now more billionaires than ever in America.
SeatGeek was last valued at $1 billion. Vivid Seat is valued at $1.2 billion and Live Nation is valued at $24 billion. Stubhub hopes to oust Live Nation as the biggest player in the ticket game, but we’ll have to wait for more information on this possible deal with JPMorgan and Goldman Sachs.
JPMorgan and Goldman Sachs have so far made no official comment on their involvement with StubHub.
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