In its prospectus, StubHub did not disclose the number of shares or an expected price range. The paperwork filed with the U.S. Securities and Exchange Commission shows it has applied to list on the New York Stock Exchange under the ticker symbol STUB.
The New York-based group, according to the filing, had a net loss of $2.8m on revenue of $1.77bn for 2024. Revenue was up 29% year-on-year, although the group made a net profit of $405m in 2023. In 2024, buyers from over 200 countries and territories purchased over 40 million tickets from over one million sellers on its marketplace.
“Over the course of 2023 and 2024, our business grew significantly and gained market share, while also generating profits and positive cash flow,” the group said.
“We believe we operate the largest global secondary ticketing marketplace for live events. Our business model has achieved scale with high growth and generated significant revenue, profit and cash flow. We connect fans around the world with sellers who use our marketplace to reach passionate fans and price tickets efficiently.”
StubHub’s global growth plan
Last July, StubHub reportedly delayed filing for an IPO because of weak market conditions. At the time, The Wall Street Journal said a person close to the deal called it a “tricky time” for companies to go public, and that that the company had been looking to have a roughly $16.5bn market valuation through the offering.
In the prospectus that has now been filed, StubHub outlined plans to target further growth globally.
“We believe that the speed and success of the integration and our financial performance today reflects the operational excellence of our leadership team that has been at the very forefront of online ticketing marketplaces,” StubHub said.
“Now that we have re-established category leadership in the North American secondary ticketing market, we are broadening our focus to include the massive opportunity ahead to create a destination for fans to conveniently access any ticket for any event in the world, whether the ticket is originally issued or resold.”
The Viagogo and StubHub brands were both created by Eric Baker. He launched StubHub in 1999, with the business later being acquired by eBay. Baker then founded Viagogo in 2007. The latter acquired StubHub’s North American business for $4.05bn in 2019.
StubHub Holdings, Inc. includes StubHub in North America — billed as the first online marketplace for secondary tickets since its launch in 2000 — and viagogo internationally.