StubHub, a popular online ticketing platform, has filed for an initial public offering (IPO) with the Securities and Exchange Commission. The company plans to list its shares on the New York Stock Exchange under the ticker symbol “STUB.”
In its filing, StubHub reported impressive financial results for the year 2024. The company’s revenue increased by 29% to reach $1.77 billion, compared to the previous year.
StubHub also sold more than 40 million tickets from over 1 million unique sellers across 200 countries and territories. Despite the strong revenue growth, StubHub experienced a net loss of $2.8 million in 2024. The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) also declined by nearly 16% to $298.7 million, compared to $353.9 million in 2023.
StubHub intends to use the proceeds from the IPO primarily to pay down its long-term debt, which currently stands at $2.33 billion. Any remaining funds will be allocated for general corporate purposes, such as working capital, operating expenses, and capital expenses.
StubHub’s financial outlook and IPO
The company may also use a portion of the proceeds for acquisitions or investments in new products or technologies. According to its S-1 filing, StubHub claims to be the leader in the secondary ticketing market. The company has also made a foray into primary ticketing, generating more than $100 million in gross merchandise sales (GMS) in 2024.
StubHub was founded in 2000 and was acquired by eBay in 2007. In 2020, the company was purchased by Viagogo, a secondary ticketing platform launched by StubHub’s original founder, Eric Baker. Ahead of the IPO, Baker owns approximately 5% of Class A shares and 100% of Class B shares, granting him more than 90% of the voting rights.
As StubHub moves forward with its IPO, the company aims to strengthen its market position and expand its offerings in both secondary and primary ticketing. The successful execution of the IPO could provide StubHub with the necessary capital to invest in its platform and continue to provide exceptional service to its customers.
