Ticket selling platform

StubHub Holdings Inc.

is seeking to raise as much as US$851 million in an

initial public offering.

The New York

–

based company plans to offer about 34 million shares for US$22 to US$25 each, according to its filing Monday with the

U.S. Securities and Exchange Commission

. At the top of the range, StubHub would have a market value of about US$9.2 billion based on the outstanding shares listed in its filing.

StubHub had a net loss of US$76 million on revenue of US$827.9 million in the six months ended June 30, versus a net loss of US$24 million on revenue of $803.5 million in the same period in 2024, the filing shows.

The operator of platforms StubHub and Viagogo was among the companies choosing to pause their IPO plans, Bloomberg News reported in April, after the U.S. announced wide-ranging tariffs that sent

the stock market

into a tailspin.

The IPO market has bounced back, and is poised to continue a hot streak of recent activity with what could be the busiest week of the year for U.S. listings. First-time share sales have already raised US$24.4 billion this year, excluding closed-end funds and other financial vehicles, comfortably ahead of the US$20.4 billion raised in the same period last year, according to data compiled by Bloomberg.

StubHub’s gross merchandise sales, representing the total value paid by ticket buyers, including fees and proceeds to sellers, rose to US$4.4 billion in the six months ended June 30, above the US$3.9 billion in the same period last year, the filing shows.

Last year, the company handled ticket sales for over a million unique sellers for events held in more than 90 countries and territories, according to the filing.

StubHub has pursued going public since at least 2022 via a direct listing that might have valued it at more than US$13 billion, Bloomberg News reported at the time. The company attempted to go public last year, after sales boomed from

Taylor Swift

’s The Eras Tour, before postponing the plans shortly after filing, citing unfavourable market conditions, a person familiar with the matter has said.

Gross merchandise sales grew 27 per cent year over year in 2024, or 29 per cent when excluding the impact of Swift’s tour, the filing shows.

Chief executive Eric Baker, one of StubHub’s co-founders, left before the business was sold to eBay Inc. in 2007for US$310 million. Baker later founded Viagogo in Europe. In 2019, Viagogo agreed to acquire StubHub for US$4.05 billion. The deal was completed the following year, with the combined company continuing to do business under both names.

Baker holds nearly five per cent of the Class A shares and, with his Class B shares that carry 100 votes each, has just under 90 per cent of the voting power in the company before the offering, the filing shows.

Madrone Partners LP has a 24.5 per cent stake in the business and 2.7 per cent of the voting power before the IPO, while WestCap Management owns an 12.3 per cent stake and Bessemer Venture Partners holds 8.8 per cent. Madrone and Bessemer have board seats at the company.

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The offering is being led by JPMorgan Chase & Co. and Goldman Sachs Group Inc., along with more than 10 other banks. The company plans for its shares to trade on the New York Stock Exchange under the symbol STUB.

Bloomberg.com