We all know about StubHub by now. Many use the third party site for tickets to various events all around the world. Now, it’s been reported that the major player in online ticket resale markets is aiming for an initial public offering (IPO) by late summer 2024, targeting a valuation of $16.5 billion.
According to The Information, StubHub is testing investors’ appetites for cash-strapped companies as the firm has piled up more than $2 billion in debt. Additionally, CNBC has discovered that StubHub has been working with JPMorgan and Goldman Sachs over the last two years to prepare for this IPO.
StubHub’s potential IPO also comes about as the world gradually recovers from the pandemic and live events finally getting back into the swing of things, with a few hiccups here and there. Investors may view it as an opportunity to tap into the resurgence of event and mores. However, uncertainties always remain for future industry-affecting issues that may come about in the future. Hopefully this is a good sign for more positive impacts within the event and ticket world.
The post StubHub Eyeing Late Summer for IPO appeared first on EDMTunes.
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