StubHub furthers talks ahead of summer IPO – reports

New York Stock Exchange

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StubHub is reportedly accelerating talks with investors and banks ahead of an initial public offering that could come as soon as next month.

Bloomberg claims the ticketing operator is working with banks such as Goldman Sachs, JPMorgan, and Bank of America on the planned IPO. Deliberations are still ongoing, and no final decisions have been made, according to a source cited by Bloomberg.

StubHub had $350m in EBITDA for the year ending in March, according to the report. The operator of ticketing resale platforms StubHub and Viagogo had $1.4bn in revenue in the period and $505m of unlevered free cash flow.

Reports in The Information in April claim the group hopes to get a valuation of $16.5bn based upon calculations made in 2021 when it last raised funding. At that time, it was claimed the ticker seller had confidentially filed paperwork with regulators.

Online ticketing rival SeatGeek has also been evaluating a potential IPO this year, according to The Information report.

StubHub’s legal wrangle

StubHub was recently forced to pay out more than $16m (£12.6m/€14.7m) in legal fees, following a month-long jury trial in Los Angeles.

The resale platform had been accused of deliberately attempting to wreck a partnership between Spotlight Ticket Management, a software company that provides a ticket management platform to corporate customers, and one of its key clients.

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