Stubhub is eyeing the summer to float the idea of a $16.5 billion initial public offering (IPO).
The digital ticketing service has been working with banking heavyweights JPMorgan and Goldman Sachs for the past two years, according to a report from information.
Stubhub IPO
Digital and online ticket sales have seen steady growth over the past decade. This is because online applications and services become more accessible and portable to access 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 looking for another round of public funding, Stubhub will need to raise the same amount at least to show investors that an increase has occurred in three years.
Founded in 2009, the company initially led the market as the leading ticketing brand in the United States and maintains multiple international offices. The company's “Deal Core” system has been the basis of a successful business strategy.
of The Stubhub site proudly states “For more than 20 years, StubHub has been the premier marketplace for fans to buy and sell tickets. Today, we continue to give 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 reach over 90 countries worldwide.”
The Covid-19 pandemic and the rapid acceleration of digitized services have also contributed to the success of companies such as StubHub, Vivid Seat, Live Nation and SeatGeek.
Basic ticket prices for household names have exploded in the post-pandemic era. This can be seen in Taylor Swift's ascension to the Forbes billionaires list and her record financial gain, the Eras Tour.
We reported in the top ten to enter the list of Forbes billionaires and their earnings. The report also found that there are now more billionaires than ever in America.
SeatGeek was last valued at $1 billion Vivid Seat $1.2 billion and Live Nation is valued at $24 billion. Stubhub would be hoping to unseat Live Nation as the biggest player in the ticketing game, but we'll have to wait for more information on this potential deal with JPMorgan and Goldman Sachs.
JPMorgan and Goldman Sachs have not made any official comment on their involvement with StubHub to date.
Image: Ideograms.
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