watch now1:3401:34StubHub S-1 filing effectively restarting IPO cessPower LunchStubHub, the ticketing marketplace that spun out of eBay in 2020, has resumed its plans to go public and is now aiming to hold its IPO next month, CNBC has learned.The company originally paused its IPO plans in April as the stock market was reeling from President Donald Trump's "liberation day" tariffs.
The decision came after StubHub submitted its spectus in March indicating it would list on the New York Stock Exchange under the ticker "STUB."StubHub now expects to kick off its IPO roadshow after Labor Day, Sept.
1, and make its debut later in the month, according to a source familiar with the matter who asked not to be named because the discussions are confidential.The company declined to .StubHub also filed an d IPO spectus on Monday.
It reported revenue growth in the first quarter of 10% from a year earlier to $397.6 million.
Operating income came in at $26.8 million for the period, after the company lost $883,000 in the year-ago period, but its net loss widened to $35.9 million from $29.7 million a year ago.The IPO market has come to life in recent months after an ext dry spell due to high inflation and rising interest rates.
A flurry of startups have made their public debuts, including rocket maker Firefly Aerospace, design software company Figma, crypto firm Circle and AI infrastructure vider CoreWeave.
Bullish, the cryptocurrency exchange that counts Peter Thiel as an investor, also filed its IPO spectus last month.StubHub has been a longtime player in the ticketing industry since its launch in 2000.
It was purchased by eBay for $310 million in 2007, but was reacquired by its co-founder Eric Baker in 2020 for $4 billion through his new company Viagogo.The company had sought a $16.5 billion valuation before it began the IPO cess, CNBC previously reported.
StubHub didn't vide an expected pricing range for its s in the filing.As it prepares to go public, StubHub is contending with hefty competition in the online ticketing market.
In addition to Ticketmaster, which is owned by Nation, StubHub is up against secondary market companies, including Vivid Seats, SeatGeek and TicketNetworkFor the first quarter, StubHub reported gross merchandise sales of $2.08 billion, up 15% from a year prior.
That was a slowdown from 47% expansion the previous quarter.
StubHub said GMS, or the total value paid by buyers for tickets and fulfillment, builds in each quarter and that initial sales for major concert tours typically occur near the end of the year.WATCH: Recent first-day pops are for pre-AI companieswatch now4:5604:56I would love to see Canva go public, says Bullpen Capital’s Duncan DavidsonThe Exchange