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Resale platform StubHub ‘delays IPO’

The American company has reportedly postponed its plans to go public until after Labor Day in the US in September

By James Hanley on 16 Jul 2024

Eric Baker, Viagogo, Stanford Graduate School of Business

Eric Baker


Secondary ticketing company StubHub has reportedly pushed back its plans for a summer IPO.

It was previously indicated the American ticket exchange and resale platform was planning to go public this summer if it was able to achieve a valuation of around US$16.5 billion (€15.1bn).

But according to CNBC, the firm has now pushed back its plans until after 2 September’s Labor Day in the US. Citing a source familiar with the deal, the news channel lists stagnant market conditions and the lack of major consumer IPOs in recent months as contributing factors in the decision.

StubHub, which declined to comment on the report, is understood to have been working with JPMorgan and Goldman Sachs on the IPO over the past two years.

Ticket platform SeatGeek has also reportedly been sizing up a potential initial public offering this year

Viagogo announced its acquisition of StubHub for US$4.05bn in 2019 in a landmark deal that brought together the world’s two largest secondary ticket sellers, and placed Viagogo founder and CEO Eric Baker back in control of the company he co-founded in 2000.

The sale was approved by the UK Competition and Markets Authority (CMA) after Viagogo was forced to sell its international business due to competition concerns. It offloaded its StubHub business outside of North America to investment firm Digital Fuel Capital LLC for an undisclosed sum in 2021.

Ticket platform SeatGeek has also reportedly been sizing up a potential initial public offering this year, while publicly traded competitors Vivid Seats and Live Nation are valued at $1.5bn and $22.8bn, respectively.

 


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