Resale platform StubHub updates IPO filing
The American ticket exchange and resale platform has given a strong indication that it is reviving plans to go public
By Lisa Henderson on 14 Aug 2025
StubHub refiled its IPO prospectus at the beginning of this week, giving a strong indication that the firm is resuming plans to go public.
The American ticket exchange and resale platform was due to go public last summer, but plans were ultimately postponed. At the time, CNBC reported that this was due to stagnant market conditions and the lack of major consumer IPOs in the months prior.
StubHub has not commented on its imminent plans, but IPO experts Renaissance Capital say the fresh prospectus (also known as S-1) could mean a debut next month. In March, the experts estimated that the IPO could raise $1 billion.
The S-1 revealed that in the first quarter of 2025, StubHub’s revenue increased 10% year on year to $397.6 million. Operating income came in at $26.8 million for the period, after the company lost $883,000 in the year-prior period, but its net loss widened to $35.9 million from $29.7 million a year ago.
In March, experts estimated that StubHub’s IPO could raise $1 billion
In 2024, StubHub generated nearly $1.8 billion in revenue and recorded a net loss of $2.8 million. It also says it facilitated the sale of over 40 million tickets on its platform for more than 1 million sellers last year.
StubHub’s biggest shareholder is Madrone Partners (27.1%), followed by WestCap Management (10.8%) and Bessemer (9.6%). Founder CEO Eric Baker holds only 5.2% of the Class A shares, but he holds all of the super-voting rights Class B shares (4.95 million), which puts him in control with 90% of the vote.
Baker co-founded StubHub in 2000 but left before eBay acquired the company for $310 million in 2007. He then launched European competitor viagogo, which completed a $4.05 billion acquisition of StubHub in 2020, reuniting Baker with StubHub.
StubHub claims to operate “the largest global secondary ticketing marketplace for live events.” Its platform connects buyers and sellers of tickets to sports events, concerts and theatre shows, among other events.
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