Ticketing marketplace StubHub made an initial public offering (IPO) filing with U.S. Securities and Exchange Commission (SEC) on Friday. As part of the filing, the company revealed that it had revenue of $1.77 billion in 2024, a jump of 30% compared to $1.37 billion from the year prior.
StubHub will offer shares of Class A common stock and intends to list it on the New York Stock Exchange under the ticker “STUB.” The company didn’t disclose how many shares it intends to offer or at which price. JPMorgan Chase and Goldman Sachs Group are among the banks that are leading the offering.
In its filing, StubHub said it had $8.7 billion in Gross Merchandise Sales, which represents the total dollar value that its users paid for ticket transactions, in the past year. It also shared various other information including that it sold more than 40 million tickets, had more than one million unique sellers, and attracted customers from 200 countries.
StubHub unveiled plans for an IPO last year, but didn’t proceed due to “unfavorable market conditions.” It also mulled going public directly in 2022, valuing itself at $13 billion according to reports.
StubHub connects buyers and sellers of tickets for live events including sports games, concerts, theater performances, and more. It was founded in 2000 and was one of the fastest-growing private companies in the United States by 2006. A year later, eBay acquired the company for $310 million. It changed ownership once again in 2020, when competing platform Viagogo, started by StubHub’s co-founder Eric Baker, bought it for $4.05 billion.