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StubHub Eyeing IPO, Aiming for $16.5B Valuation: Report
StubHub may go public with an IPO and is aiming for a $16.5 billion valuation, according to reports, with help from JP Morgan and Goldman Sachs.
Moody’s estimates StubHub is carrying $2 billion in debt, a figure that is seven times its earnings before interest, taxes, depreciation, and amortization (EBITDA), according to The Information. In late 2019, its smaller rival, Viagogo, bought the ticketing marketplace from eBay for $4.05 billion in a combination cash and debt deal that was finalized months before the COVID-19 pandemic caused mass event cancellations. StubHub temporarily cut its staff by two-thirds in March 2020 as it and other ticket resale companies struggled with a sharp drop-off in revenue and refund requests from customers.
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