StubHub is considering a summer initial public offering, a person familiar with the matter told CNBC.
The online ticketing service is targeting a valuation of at least $16.5 billion, which was its valuation at the end of 2021 when it raised its latest round of private financing.
The company has always been with JPMorgan and Goldman Sachs IPOs in the past two years. “Information” first reported the news.
StubHub has been a long-time player in the ticketing industry since its launch in 2000.It is eBay The company was acquired for $310 million in 2007, but was reacquired by co-founder Eric Baker for $4 billion in 2020 through his new company Viagogo.
Online ticketing rival SeatGeek is also reportedly evaluating the possibility of an IPO this year.If StubHub does hit the public markets, it will trade alongside rivals vivid seats and live country. Vivid Seats has a market capitalization of $1.2 billion, and Live Nation has a market capitalization of just under $24 billion, according to FactSet.
The live events market is booming as people gravitate toward outdoor entertainment and experiences in the wake of the Covid-19 pandemic. Record-breaking concert ticket sales, such as those for Taylor Swift’s Eras Tour and Beyoncé’s Renaissance Tour, have boosted ticketing companies’ revenue across the board.
StubHub, JPMorgan Chase and Goldman Sachs all declined to comment on the potential timing of an IPO.
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