StubHub, a ticketing software program firm, has held talks with bankers in latest weeks about holding an preliminary public providing earlier than the tip of the yr, two individuals with data of the matter mentioned, testing Wall Avenue’s urge for food for a return of tech I.P.O.s.
The talks are preliminary, mentioned the individuals, who spoke on the situation of anonymity as a result of the discussions had been non-public. StubHub instructed Wall Avenue analysts in an investor assembly on Thursday that it was aiming to boost greater than $1 billion in a public providing, based on one attendee.
The tech public providing market has gotten off to a slow start this year. However a rising variety of firms seem able to ponder public listings, regardless of market volatility stemming from President Trump’s fixed modifications to financial insurance policies.
Among the many tech firms exploring listings this yr are CoreWeave, a supplier of cloud computing providers for A.I. firms, which unveiled its investor prospectus on Monday. Discord, the social chat app in style with the online game group, has additionally met with funding bankers to discuss preparations for an I.P.O.
A consultant for StubHub didn’t reply to a request for remark.
StubHub, a ticket reselling web site based in 2000 by Eric Baker and Jeff Fluhr, grew shortly in its early days. Individuals might use the location to purchase secondary-market tickets for the whole lot from live shows to sports activities occasions.
In 2006, Mr. Baker, who was pushed out amid tensions with Mr. Fluhr, based ViaGogo, an identical ticketing firm centered on European ticket reselling and occasions. In 2019, ViaGogo announced it was buying StubHub for $4 billion.
Shortly after, the Covid pandemic hit, with lockdowns placing live shows and reside performances on maintain and in impact kneecapping 95 % of StubHub’s enterprise. Mr. Baker weathered the storm, and the corporate noticed a surge in enterprise as lockdowns lifted and followers returned to venues en masse.
The corporate eyed an I.P.O. final yr at a $16.5 billion valuation, the individuals with data of the talks mentioned, however shelved its plans amid a dearth of public listings of comparable firms.
Just lately, there have been considerations on Wall Avenue that ticketing firms are seeing slower gross sales development as followers cool on live shows after an preliminary surge of post-pandemic curiosity.
However executives at StubHub have mentioned its enterprise continues to be rising. The corporate grew its gross ticket gross sales by near 50 % within the final three months of 2024, mentioned one attendee of the investor assembly on Thursday.
