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Stubhub, the online ticket market, which earned an unexpected from the concert tour of the Taylor Swift epoch, has filed a request for an initial US offer to test the investor’s appetite for technology lists in terms of drop in Wall Street’s shares.
The company based in Yorkyork said on Friday that it plans to list its ordinary shares on the Yorkujoring Stock Exchange under a symbol stub.
Stubhub does not disclose the size or range of stock sales prices, but will try to raise more than $ 1 billion in offer, according to people close to the issue, which implies a market value of about $ 16.5 billion. JPMorgan and Goldman Sachs will act as leading supply downloads.
Last year, the Group announced a net loss of $ 2.8 million for $ 1.77 billion in revenue, making $ 405 million in profit of $ 1.37 billion in $ 2023, according to his submission to US regulators. Stubhub had an accumulated debt of $ 1.5 billion since the end of last year. It says “material weaknesses” have been identified in its internal control over financial reporting.
Stubhub’s submission comes as President Donald Trump’s trade agenda American capitalConcerns about slower economic growth and doubts about reviving the IPO market after a three -year drought caused by higher interest rates.
But the activity of US capital markets has gathered in recent weeks despite volatility and drop of 3.6 % in the S&P 500 with blue chips this year.
Google’s parental alphabet agreed on Monday to buy Wiz to start computer security for $ 32 billion, while Jerseyu Jerseyers’ -based operator Coreweave said it wants to raise as much as $ 2.7 billion in what is expected to be the biggest technology IPO of the year. Klarna, a Swedish group for FITTEH also applied for a list in Yorkyor this month.
Stubhub was a co-founder of Eric Baker in 2000, who left the company before buying eBay for $ 310 million seven years later. It was then acquired for just over $ 4 billion from Viago, which Baker began in 2006, in 2019.
Last year, consumers bought more than 40 million tickets from over 1 million sellers in the Stubhub market. The company reported sales of gross goods from $ 8.7 billion in 2024, which is 27 % of the previous year.
Stubhub was among the main users of the 2023 -year -old Swift tour, which participated with $ 665 million, or approximately 10 % of the group’s annual ticket sales that year.
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