NEW YORK (CelebrityAccess) — Ticket resale marketplace StubHub is reportedly delaying plans for their long-awaited initial public offering until after August.
According to CNBC, who cited an unnamed source familiar with the details of the deal, the IPO is on hold due to stagnant market positions and the dearth of major IPOs in recent months which make it hard to just investor appetite.
As previously reported, StubHub was seeking to go public in the Summer of 2024 with a hoped-for valuation of at least $16.5 billion.
According to CNBC, StubHub has been weighing a potential IPO for two years and has been working with JPMorgan and Goldman Sachs on the deal.
The IPO, if successful, would have made StubHub one of the world’s largest ticketing companies by market cap, behind Live Nation, which is valued at almost $23 billion.
Launched in 2000 by Eric Baker and Jeff Fluhr, StubHub was acquired by eBay in 2007 for $310 million. The company was reacquired by Viagogo, which was also founded by Eric Baker, for $4.05 billion in 2019.
