By Arasu Kannagi Basil
(Reuters) -StubHub’s 2024 revenue surged 29.5%, it reported on Friday in its U.S. initial public offering paperwork, as the online ticketing marketplace moves ahead with its long-sought New York flotation.
A handful of companies are moving ahead with stock market listings despite volatility arising from uncertainty around U.S.
trade policy.
Nvidia-backed startup CoreWeave and Swedish fintech Klarna are among the companies gearing up to go public in New York.
StubHub, one of the biggest secondary ticketing marketplaces for live events, will sell new shares in the proposed offering, it said.
Its revenue jumped to $1.77 billion in 2024, compared with $1.37 billion a year earlier, thanks to higher ticket sales.
New York-based StubHub swung to a loss of $2.8 million in 2024, compared with a profit of $405.2 million in 2023.
“StubHub’s filing follows on the recent filings of other high-profile deals set to go public soon, including CoreWeave and Klarna.
This indicates a recovering U.S. IPO market with owners seeing a window of opportunity to go public,” said IPOX CEO Josef Schuster.
“StubHub remains one of the most closely watched IPOs this year and ahead of FIFA 2026.”
Founded in 2000, StubHub’s ticketing marketplace allows fans to buy tickets for live events.
Buyers from over 200 countries purchased over 40 million tickets on its platform in 2024.
CEO Eric Baker left StubHub ahead of its $310-million sale to e-commerce firm eBay in 2007.
Baker in 2006 launched viagogo, a rival ticket reseller.
Over a decade later, in 2020, viagogo bought StubHub from eBay for $4.05 billion.
In 2022, StubHub and viagogo completed the integration of their businesses. StubHub’s major shareholders include buyout firm Madrone Capital and venture capital firm Bessemer Venture Partners.
StubHub, which has tapped over 10 Wall Street banks for the IPO, will list on the New York Stock Exchange under the symbol “STUB.”
J.P.
Morgan and Goldman Sachs are the lead underwriters. IPO proceeds will be used to repay debt and for general purposes.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Alan Barona)
