Report: Stubhub Delays IPO – CelebrityAccess

NEW YORK (CelebrityAccess) — Ticket resale market StubHub is reportedly delaying plans for his or her long-awaited preliminary public providing till after August.

In keeping with CNBC, who cited an unnamed supply acquainted with the main points of the deal, the IPO is on maintain as a consequence of stagnant market positions and the dearth of main IPOs in latest months which make it arduous to only investor urge for food.

As beforehand reported, StubHub was searching for to go public within the Summer season of 2024 with a hoped-for valuation of at the least $16.5 billion.

In keeping with CNBC, StubHub has been weighing a possible IPO for 2 years and has been working with JPMorgan and Goldman Sachs on the deal.

The IPO, if profitable, would have made StubHub one of many world’s largest ticketing corporations by market cap, behind Stay Nation, which is valued at virtually $23 billion.

Launched in 2000 by Eric Baker and Jeff Fluhr, StubHub was acquired by eBay in 2007 for $310 million. The corporate was reacquired by Viagogo, which was additionally based by Eric Baker, for $4.05 billion in 2019.