StubHub has officially filed for an initial public offering (IPO), aiming to transition into a publicly traded company.

StubHub's direct ticket issuance strategy has successfully generated over $100 million in sales, indicating potential for further growth through partnerships with major teams and artists.

The company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2024 was $299 million, reflecting a decline from the previous year but an improvement from a $57 million loss in 2022.

While the filing did not disclose the number of shares or the expected price range for the IPO, the company is targeting a market valuation of around $16.5 billion.

StubHub claims to operate the largest global secondary ticketing marketplace for live events, highlighting its significant growth and scale.

The platform connects fans with sellers, allowing users to efficiently buy and sell tickets for concerts and sports events through its North American brand and international counterpart, viagogo.

In 2024, the company reported a net loss of $2.8 million despite generating $1.77 billion in revenue, a stark contrast to its profit of $405.2 million on $1.37 billion in revenue in 2023.

J.P. Morgan and Goldman Sachs have been appointed as the lead underwriters for the IPO, which is set to trade under the symbol STUB on the New York Stock Exchange.

Previously owned by eBay, StubHub was acquired by Viagogo in a $4 billion deal in early 2020 and rebranded to StubHub Holdings in September 2021.

StubHub had initially planned to launch its IPO in 2024 but postponed due to unfavorable market conditions, which were described as a 'tricky time' for public offerings.

The ticketing industry remains highly competitive, with major rivals such as Ticketmaster, SeatGeek, and Vivid Seats having greater financial resources.

The announcement of the IPO has generated interest and speculation regarding the company's growth potential and future market valuation.