StubHub Aims for $16.5B Valuation in IPO

StubHub, a leading secondary ticketing marketplace, has officially filed for an initial public offering (IPO) on the New York Stock Exchange, aiming for a valuation of $16.5 billion. In 2024, StubHub generated $1.77 billion in revenue, with a net loss of $2.8 million, selling over 40 million tickets from approximately 1 million sellers. Founded by Eric Baker, the company has seen significant growth with its gross merchandise sales reaching $8.7 billion, a 27% increase from the previous year. The IPO proceeds are intended to address the company's debt and support general corporate purposes, including potential acquisitions and investments in new technologies. StubHub, acquired by Baker's Viagogo in 2020, positions itself as a leader in the secondary ticketing market, competing with platforms like Vivid Seats and Eventbrite. The IPO comes amid a fluctuating market landscape with high demand for popular events but also amidst challenges such as allegations of predatory pricing tactics.