Tue Apr 01 14:40:00 UTC 2025: ## StubHub Aims for $16.5 Billion IPO Valuation Amidst Post-Pandemic Growth
**NEW YORK, NY** – StubHub, the online ticket marketplace, is preparing for its initial public offering (IPO), aiming for a valuation of $16.5 billion. The company, which recently completed its acquisition by viagogo after a complex journey involving a founder’s firing and a pandemic-induced restructuring, is highlighting impressive recent growth.
StubHub, co-founded by Eric Baker in 2000, experienced a turbulent history, including Baker’s dismissal and the subsequent creation of his competing platform, viagogo. Viagogo ultimately reacquired StubHub from eBay in 2020 for $4.05 billion. The integration of the two platforms, finalized in September 2022, followed a period of significant upheaval including staff layoffs and legal challenges stemming from its COVID-19 era refund policies.
Despite these hurdles, StubHub has demonstrated strong revenue growth. The company reported 31.9% growth in 2023 and 29.5% in 2024, fuelled by a rebound in the live events market. This growth is attributed partly to investments in new marketing channels and a nascent “direct issuance” business, partnering with event organizers to sell tickets directly on its platform. This new initiative, although risky, targets a large, untapped market.
However, the proposed IPO valuation raises concerns. At 9.3 times 2024 sales and 120 times its operating profit, it significantly exceeds the valuations of competitors like Vivid Seats and Live Nation. While StubHub’s growth surpasses its rivals, the high valuation may deter some investors. Further risks include potential market slowdown after a post-pandemic surge and competition from established players like Ticketmaster. Analysts will closely watch the IPO, considering both the company’s remarkable recovery and the significant price tag.
First Piper 