Stubhub is looking to the summer to float the idea of an initial public offering (IPO) to the tune of $16.5bn.
The digital ticketing service has been working with banking heavyweights JPMorgan and Goldman Sachs for the past two years, according to a report from The Information.
Stubhub IPO
Digital and online ticket sales have seen constant growth over the past decade. This is down to apps and online services becoming more accessible and portable to gain entry into 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 eyeing another round of public funding Stubhub would have to raise the same sum at the very least to show investors that some growth has taken place in three years.
Founded in 2009, the company led the market early as the leading brand in ticket buying in the United States and holds many international offices. The company’s ‘Deal Core’ system has been the fulcrum 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 product features that ensure we have your back. Combined with viagogo, we now span 90+ countries around the world.”
The Covid-19 pandemic and the rapid acceleration of digitized services have also contributed to the success of companies like StubHub, Vivid Seat, Live Nation and SeatGeek.
Basic ticket prices for established names have exploded after the pandemic-era. This can be seen in Taylor Swift’s ascension to the Forbes Billionaire list and her record-breaking financial windfall, the Eras Tour.
We reported on the top ten to make the Forbes Billionaire list and their earnings. The report also found that there are now more billionaires than ever in America.
SeatGeek was last valued at $1bn Vivid Seat $1.2 billion and Live Nation is valued at $24 billion. Stubhub would be hoping to oust Live Nation as the biggest player in the ticketing game, but we will have to wait for more information on this possible deal with JPMorgan and Goldman Sachs.
JPMorgan and Goldman Sachs have not made any official comment on their involvement with StubHub to date.
Image: Ideogram.
The post Stubhub looks ahead to the summer for initial public offering appeared first on Due.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Entrepreneur.com – https://www.entrepreneur.com/finance/stubhub-looks-ahead-to-the-summer-for-initial-public/472648
