Key Points of the News 👇

1. StubHub, a major online ticket resale platform, is reportedly planning an initial public offering (IPO) by late summer 2024 with a target valuation of $16.5 billion.

2. The company has accumulated over $2 billion in debt, prompting it to explore going public to address its financial challenges and gauge investor interest.

3. StubHub has been working with JPMorgan and Goldman Sachs for the IPO over the past two years.

4. The $16.5 billion valuation target matches the figure StubHub secured during its last fundraising round in late 2021.

5. StubHub, acquired by eBay in 2007 and repurchased by its co-founder in 2020, aims to capitalize on the recovery of the live events industry post-COVID-19.

6. The decision to go public comes after viagogo sold StubHub's business outside North America due to competition concerns identified by the UK’s Competition and Markets Authority.

7. The live events industry has been recovering from the pandemic, leading to increased demand for tickets and potential growth opportunities for StubHub.

8. Record-breaking ticket sales for artists like Taylor Swift and Beyoncé post-pandemic have contributed to StubHub's potential for revenue growth.

Full Article & Source Available Here