The StubHub logo appears at its headquarters in San Francisco.
Andrei Sokolov | Image Alliance | Getty Images
StubHub is eyeing an IPO in the summer, a person familiar with the matter told CNBC.
The online ticketing service is aiming for a valuation of at least $16.5 billion, which was estimated in late 2021 during the latest round of private financing.
The company has been working with JP Morgan And Goldman Sachs During the past two years since the IPO. The information was the first to report the news.
StubHub has been a long-time player in the ticketing industry since its launch in 2000. It was purchased by eBay For $310 million in 2007, but its co-founder Eric Becker reacquired it in 2020 for $4 billion through his new company, Viagogo.
Rival online ticketing company SeatGeek is reportedly evaluating a potential IPO this year. If StubHub enters the public market, it will trade alongside competitors Live seats And Long live the nation. Vivid Seats has a market cap of $1.2 billion, and Live Nation is valued at just under $24 billion, according to FactSet.
The live events market has boomed in the wake of the COVID-19 pandemic, as people gravitate towards out-of-home entertainment and experiences. Record-breaking concert ticket sales, such as those seen on Taylor Swift's Eras Tour and Beyoncé's Renaissance Tour, have increased revenue for ticket companies across the board.
StubHub, JPMorgan and Goldman Sachs declined to comment on the potential timing of the IPO.
