- StubHub Holdings is parent of StubHub and Viagogo
- Viagogo acquired StubHub for US$4bn in 2019
- Direct listing has been favoured by several tech firms
Online ticket platform StubHub is considering going public in a direct listing that would value the company at US$13 billion, according to Bloomberg.
StubHub was founded in 2000 with the intention of making it simpler and safer for fans to buy and sell tickets to major sports and entertainment events. Customers are protected by guarantees of validity and the company is an official partner of several major sports organisations around the world.
Rival Viagogo acquired StubHub from eBay for US$4 billion back in 2019, fulfilling chief executive Eric Baker’s ambition of uniting the two companies that he founded under a single banner.
The unified ‘StubHub Holdings’ has benefited from a quicker than anticipated return to live events and Bloomberg says StubHub has filed the necessary paperwork for a direct listing with the US Securities and Exchange Commission (SEC) and could launch the direct listing later this year.
A direct listing differs from a conventional initial public offering (IPO) in that the former does not involve the creation of new shares. Instead, the company involved sells existing shares to potential investors who are then not constrained by minimum periods before they can offload stock.
This route has been pursued by several technology firms in recent times, including Roblox, Spotify and Slack. The report adds that JPMorgan Chase and Goldman Sachs are advising StubHub on the listing and that the company could make its move later in 2022.
SportsPro has contacted StubHub for comment.
StubHub competes with the likes of Vivid Seats and SeatGeek, both of which have recently gone public as a result of special purpose acquisition company (SPAC) takeovers.
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January 17, 2022 at 11:15PM
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StubHub to go public in US$13m direct listing, say report - SportsPro - SportsPro Media
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