Online ticketing marketplace StubHub has filed to go public on the New York Stock Exchange under the ticker “STUB.”
StubHub has long flirted with going public. In 2022, it confidentially filed documents for a direct listing, and again last summer it considered an IPO, though it folded its plans following a controversial rollout of ticket sales for Taylor Swift’s Eras Tour.
StubHub reported $2.8 million in losses on revenue of $1.77 billion for 2024, according to the filing. The prior year, StubHub generated a $405 million profit off $1.37 billion in revenue.
The company says that in 2024, gross merchandise sales on its marketplace totaled $8.7 billion, a 27% year-over-year increase. It had more than 1 million unique sellers from more than 200 countries, buying more than 40 million tickets for events in more than 90 countries and territories.
Some of the biggest shareholders in StubHub include Bessemer Venture Partners, which owns a 9.6% stake in the business; Madrone Capital Partners, with a 27.1% stake; and WestCap with 11%. StubHub’s CEO and co-founder Eric Baker owns 5.2% of shares in the company.
Baker founded the company and left his post as president before it was sold to eBay in 2007. In 2019, eBay agreed to sell StubHub to another ticketing marketplace company Baker founded, Viagogo, for $4.05 billion.
StubHub’s listing comes at a time when investors have seemingly soured on the live entertainment industry. Its chief rival, Vivid Seats, has seen its stock price plummet over 76% since going public in 2021.
Featured image by NurPhoto/Getty Images
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