StubHub Files for IPO, Reveals 2024 Revenue Jumped 30% to $1.7 Billion
StubHub filed filed its initial public offering on Friday, revealing in the paperwork that revenues for 2024 jumped to $1.7 billion in 2024, a 30% increase over 2023 earnings.
The secondary market concert ticket vendor shares will be traded on the stock market under the ticket symbol STUB.
The company said in its filing that more than 40 million tickets were sold through StubHub in 2024, with transactions in 200 countries and territories involving more than 1 million sellers.
Nevertheless, StubHub reported a loss of $2.8 million for the year, quite a drop from the 405 million in profit it reported for 2023. Though according to the filing this is related to a rise in operational and sales and marketing expenses, extinguishment of debt, and related costs relative to 2023.
The company had planned to go public last year but withdrew in July.
The company launched in 2000 and for 13 years was a subsidiary of eBay, which acquired it in 2007 for $310 million. StubHub c0-founder Eric Baker bought the company back in 2020 in a $4 billion deal through his new company Viagogo.
StubHub joins a small wave of recent or incoming IPO filings, which includes digital health therapy services provider Hinge Health, which did so on March 10, financial services company Klarna a week ago, and CoreWeave, which plans to file next week. And ServiceTitan, a cloud software company, filed an IPO in december.
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