StubHub eyes $1 billion IPO golden ticket as live events rebound from pandemic slump

StubHub’s potential IPO represents a significant milestone in the revival of tech public offerings amid market volatility influenced by President Trump‘s economic policy changes. While the ticketing marketplace has only held preliminary discussions with bankers, their reported goal of raising over $1 billion signals confidence in their post-pandemic recovery. This development, alongside similar explorations by companies like CoreWeave and Discord, suggests renewed Wall Street appetite for tech listings despite the slow start to the year’s IPO market.

The big picture: StubHub is testing the waters for a potential initial public offering that could happen before the end of 2025, looking to raise more than $1 billion according to preliminary discussions with bankers.

• The ticketing software company’s exploration of going public comes during a period when the tech IPO market has been notably slow, but appears to be gathering momentum.
• StubHub executives shared their IPO ambitions during an investor meeting on Thursday, signaling confidence in the company’s recovery and growth trajectory.

Behind the numbers: StubHub has demonstrated strong recent performance, growing its gross ticket sales by approximately 50 percent in the fourth quarter of 2024.

• This growth represents a remarkable turnaround for a company that saw 95 percent of its business effectively eliminated during the Covid pandemic lockdowns.
• The revival in performance offers potential investors concrete evidence of the company’s resilience and ability to capitalize on the return of live events.

Market context: StubHub is not alone in exploring public listings, as other significant tech companies are also contemplating IPOs despite economic uncertainties.

• CoreWeave, which provides cloud computing services for AI companies, and Discord, the gaming-focused social chat platform, are among the tech firms considering public offerings this year.
• These potential listings suggest a cautious renewal of the tech IPO market after a period of restraint.

Historical perspective: StubHub has experienced dramatic business fluctuations since its founding in 2000 by Eric Baker and Jeff Fluhr.

• The ticket reselling platform was acquired by ViaGogo for $4 billion in 2019, just before the pandemic devastated the live events industry.
• The timing of the acquisition proved unfortunate, as COVID-19 lockdowns nearly destroyed the company’s business model immediately after the purchase was completed.