The StubHub IPO is Near (maybe)- Prepare to Invest

The StubHub IPO date is expected as early as September 2024. Prepare now to if you want to participate in the IPO. 

Access select pre-IPO startups like Databricks, Anthropic, and Canva via the Fundrise Innovation Fund.

---

Recent StubHub News

07/12/2024: StubHub Delays IPO Due to “Choppy Market Conditions”
06/10/2024: StubHub Ebitda Is Said to Be $350 Million
04/12/2024: StubHub Plans Summer IPO
08/24/2023: StubHub Hires New CFO With Eyes on 2024 IPO
Older news…

About StubHub

StubHub is a ticketing marketplace for sports, concerts, and other live events. It’s the largest ticket resale platform in the world after merging with Viagogo.

Cofounder Eric Baker came up with the idea when his girlfriend wanted to see The Lion King on Broadway, but there was no secondary market to buy tickets. 

Later, he shared his idea with Stanford Business School classmate Jeff Fluhr. The duo entered the idea in a class project competition, and Fluhr soon left Stanford to launch the company. Baker rejoined after graduating, but the two cofounders clashed, and Baker was eventually fired. 

Stubhub was sold to eBay in 2007 for $310 million. Baker then started Viagogo in the U.K., having not signed a non-compete. More than ten years later, Viagogo bought StubHub from eBay in 2019 for $4.05 billion, right before the COVID-19 pandemic crushed the live ticketing business.

Regulators required the company to sell its international businesses (including the U.K. business) to allow the transaction. Upon the U.K. regulator’s approval of the deal, StubHub and Viagogo merged into StubHub Holdings.

StubHub Holdings filed confidentially for a direct listing IPO in January 2022 for a reported $13 billion. But the IPO market crash scuttled those plans.

StubHub is now considered a likely IPO candidate in 2024 alongside competitor SeatGeek, which filed confidentially for an IPO in April 2023. 

This video gives you a sense of how the platform works:

Ownership

StubHub owners include the founder, Eric Baker, who likely retained a majority of ownership after the lessons he learned in the early dates. Employees, venture capital firms, and individual investors make up the balance of ownership.

Venture capital and individual investors include Bessemer Venture Partners, Madrone Capital Partners, Index Ventures, Steffi Graf, Andre Agassi, Groupe Arnault, Jacob Rothschild, Herbert Kloiber, and Brent Hoberman. 

Valuation

The Information reported that StubHub is seeking an IPO of $16.5 billion in 2024. If it cannot achieve this valuation, it may not pursue the offering. 

Sources revealed to Bloomberg StubHub was exploring a direct listing in early 2022 at an estimated StubHub valuation of $13 billion. 

The direct listing never commenced due to market conditions. $13 billion is the best StubHub valuation estimate currently available. 

However, many private valuations were inflated in early January 2022 before falling significantly over the next 24 months. 

IPO Potential

The StubHub IPO date is now in question. The original expected date was late summer 2024, as reported by The Information reported in April 2024.

Bloomberg later confirmed the IPO date estimate in June 2024 saying the company could IPO as early as July 2024. 

However, the Wall Street Journal reported on July 12th, 2024, that StubHub was delaying its IPO due to “choppy market conditions”. It now says the earliest IPO date would be September 2024. 

Given the market conditions were not choppy at the time, we can only assume the IPO could not reach its target of $16.5 billion, so they underwriters backed off. 

In August 2023, The Information reported the company had hired a new CFO “to try to take it public next year”, attributing the report to “people familiar with the matter.” 

Besides The Information’s August 2023 report and Bloomberg’s January 2022 story, there has been little information about a potential StubHub IPO. 

StubHub worked with J.P. Morgan and Goldman Sachs for its previous attempt to go public.

How to Invest in StubHub Stock

Acquiring pre-IPO shares of StubHub seems unlikely as there has been little indication of previous availability of investing platforms. Therefore, we believe waiting for the IPO is the most likely way new investors can acquire shares. 

Aspiring shareholders can increase their chances of investing by taking the actions outlined below.

1. Access StubHub IPO Shares Through a Broker

Once StubHub files an S-1 with the SEC, nimble investors may find investment opportunities during the IPO via participating online brokers.

As the world’s largest secondary ticket website, significant shares could be available for distribution to retail investors.

The following online brokers give their users access to IPOs:

• TradeStation 
• Robinhood

IPO underwriters control where IPO shares get distributed.

Many shares will go to the underwriters’ wealthy clients. We learn about this access in the S-1 filing, which comes out a month or two before the IPO, and then get updated with more details as the IPO approaches.

J.P. Morgan and Goldman Sachs are the most likely underwriters based on the January 2022 Bloomberg report. 

TradeStation has a long track record of accessing more than 360 IPOs and secondary offerings.

Robinhood has the advantage of a Silicon Valley network, which could be helpful with StubHub.

There may be enough retail shares for multiple brokers to get an allocation. 

Read the S-1 filing to find mentions of these online brokers to identify opportunities. 

Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.

2. Invest via a Directed Share Program (speculation)

Will StubHub buyers and sellers get a chance to invest in the StubHub IPO?

Possibly. But it’s not likely because shares will be limited, and there are too many StubHub users to distribute available shares fairly. 

StubHub has also considered a direct listing, which would make a directed share program less likely.

When companies file their S-1 SEC filing (to kick off the IPO process), they sometimes include a directed share program for executives, affiliates, and loyal customers.

StubHub can attribute its success to its ticket sellers and buyers. Companies can use the IPO as an opportunity to reward them.

This has happened before.

• Uber offered shares to drivers who completed a certain number of trips.
• GoPro offered shares to its email list. 
• Airbnb offered IPO shares to hosts. 
• Robinhood offered IPO shares to its customers. 

Existing customers can still monitor emails leading up to the IPO, just in case. 

Retail access through online brokers such as SoFi, Robinhood, and TradeStation is a more likely scenario — though allocations will be limited if available. 

Bookmark this page for more information as the IPO approaches. 

3. Buy the stock after the StubHub IPO

A pending StubHub IPO may limit retail investors’ chances to secure pre-IPO shares.

Investing post-IPO offers advantages with comprehensive financial data available after a few quarters. Pre-IPO investing lacks such transparency.

IPO stock prices may rise in the short term, especially for high-demand companies. Early entry and strategic selling could empower nimble investors to capitalize.

Post-IPO, beware of inflated share prices. Avoid rushed purchases, as post-lockup expirations and earnings disappointments often lead to declines within the first year of trading. 

Selective and patient investing, particularly in disruptive companies like StubHub, can lead to higher valuations in the long run.

4. Monitor StubHub stock availability on pre-IPO investing platforms

Non-accredited retail investors can bypass the accreditation requirement to own pre-IPO companies by owning the Fundrise Innovation Fund. The minimum to invest is $10.

But pre-IPO investors cannot select individual companies, and StubHub stock is currently not present in the portfolio.

***This option is unlikely due to a relatively tight ownership structure***

I have not seen evidence of StubHub stock being available on pre-IPO platforms. 

For share availability, accredited investors can still monitor pre-IPO investing platforms such as Hiive, EquityZen, Forge Global, and Linqto. 

Expect to pay at least a $10,000 investment minimum. In some cases, the minimum investment is much higher. 

Signing up for online access to pre-IPO data and deal alerts is free. 

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

Frequently Asked Questions (FAQs)

Is StubHub Stock Publicly Traded?

No. StubHub is no publicly traded. 

eBay owned the company for over ten years, but it is now a private, independent company.

What is the StubHub Stock Price?

A public StubHub stock price does not exist because the company remains private. 

The company raised funds in December 2023 at a price of $265 per share, according to pre-IPO data provider, Caplight.

What is the StubHub Stock Symbol? 

There is no StubHub stock symbol yet because it is a private company.

However, the company likely reserved a ticker symbol before its SEC filing in January 2022. 

We can speculate about the StubHub ticker before it pursues an IPO. The following StubHub ticker suggestions are available in the U.S.: 

• STUB
• HUB
• TIX

Where is the StubHub F-1 Filing?

StubHub has not announced a confidential S-1 filing to the SEC. We may catch wind of such filing or have to wait until a public S-1 is available before learning about an impending IPO. 

Most companies start with a confidential filing and then release the filing to the public when ready to start the IPO process. 

When the company releases its S-1 filing to investors, we’ll link to and embed the document on this web page.

In the meantime, you can check out the most recent S-1 filings in our filings feed. I’ll embed a copy of the S-1 filing on this page when it becomes available

StubHub News Archive

01/13/2022: StubHub Files for Public Trading Debut Via Direct Listing
09/08/2021: StubHub and Viagogo Merge
05/27/2020: Worst Deal Ever
02/13/2020: Viagogo Completes Acquisition Of StubHub
11/25/2019: Viagogo Acquires StubHub from eBay for $4.05 Billion

Conclusion

Interested StubHub ticket buyers and sellers may seek an investment in the company before it becomes publicly traded. 

However, we believe the founder, Eric Baker, owns more than 50%, and the number of investors is limited. Viagogo used debt in the early stages, leaving less equity for pre-IPO marketplaces. 

Pre-IPO StubHub shares will likely remain elusive now that talk of a StubHub IPO is becoming louder. 

Retail investors should be cautious. The current IPO sentiment remains fragile after multiple lackluster 2023 IPOs. 

With interest rate increases slowing or complete, the IPO environment may improve in 2024.

StubHub could be an early high-profile deal, having excellent name recognition. Competitor SeatGeek may also be in line to IPO in early 2024, which could ignite some excitement on Wall Street. 

The StubHub financials will be critical for retail investors to review in pursuit of IPO access. Evaluate the company as if it were public already to determine if the IPO valuation is palatable. 

Pre-IPO investing platforms have opened more opportunities for retail investors. However, opportunities to invest in StubHub stock before the IPO are likely limited because of a tight cap table. 

Reduce your expectations if you’re interested in pursuing pre-IPO equity in StubHub. You’ll likely need to wait for the IPO.

Monitor the IPO brokers mentioned above to see if the StubHub IPO is investable for retail investors. I’ll update this page as we learn of any developments. 

Existing customers can also monitor emails from StubHub during the week before the IPO to see if they’ll be offered shares. We may get clues in the S-1 filing if this will happen.

Good luck if you wish to buy StubHub stock during the StubHub IPO. Invest in pre-IPO and IPO companies at your own risk.

* Disclosure: The web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long HOOD and the Fundrise Innovation Fund.