StubHub wants to go public this summer, a person who knows about it told CNBC.
They hope to be worth at least $16.5 billion, which is what they were worth in late 2021 when they got money from private investors.
For the past two years, StubHub has been working with JPMorgan and Goldman Sachs to get ready for the IPO. The Information was the first to share this news.
StubHub has been selling tickets online since 2000. eBay bought it for $310 million in 2007, but then one of its co-founders, Eric Baker, bought it back in 2020 for $4 billion with his new company Viagogo.
Another online ticket seller, SeatGeek, is also thinking about going public this year. If StubHub does, it will be on the stock market with competitors like Vivid Seats and Live Nation.
Vivid Seats is worth about $1.2 billion, and Live Nation is worth almost $24 billion, according to FactSet.
Since the Covid-19 pandemic, more people are going to live events. This has helped companies like StubHub make more money from selling tickets to concerts. Big tours by stars like Taylor Swift and Beyoncé have broken records for ticket sales.
StubHub, JPMorgan, and Goldman Sachs didn’t want to talk about when the IPO might happen.
