StubHub, a prominent online ticket resale marketplace, filed on Friday for an initial public offering on the New York Stock Exchange under the ticker symbol “STUB.”
In its filing, the company reported a net loss of $2.8 million on $1.77 billion in revenue for 2024. This contrasts with a $405 million profit on $1.37 billion in revenue for 2023.
Founded in 2000, StubHub has been a significant player in the ticketing industry. It was acquired by eBay in 2007 for $310 million but returned to the hands of co-founder Eric Baker in 2020 through his company Viagogo, in a $4 billion deal.
StubHub’s platform facilitated the sale of more than 40 million tickets in 2024 from roughly one million sellers, according to the company’s prospectus.
The company previously considered an IPO in 2023 but delayed its plans due to unfavorable market conditions, CNBC reported. StubHub’s competitors include SeatGeek, which also considered going public last year, Vivid Seats, which went public via a special-purpose acquisition company in 2021, and Live Nation.
The broader IPO market, which had been quiet since early 2022, is showing signs of revival. CoreWeave, a provider of artificial intelligence infrastructure, is expected to make its market debut next week, while Klarna and Hinge Health recently filed their IPO paperwork.
Other significant IPOs in recent months include ServiceTitan in December and Reddit in November, marking a slow return to activity after a prolonged IPO drought driven by rising interest rates and inflation.