StubHub Reportedly Puts Off IPO Plans Because of Weak Market Conditions

The planned initial nationalist offering (IPO) of ticketing institution StubHub apparently is disconnected until aft Labor Day astatine nan earliest.

Various reports said that nan usability of resale sites StubHub and viagogo had hoped for a summertime IPO, but has delayed nan move because of anemic marketplace conditions.

The Wall Street Journal reported a personification adjacent to nan woody called it a “tricky time” for companies to spell public. It noted that StubHub had been looking to person a $16.5 cardinal market valuation done nan offering. 

Bloomberg quoted a personification acquainted pinch nan matter saying that StubHub was group to denote nan filing by Friday. The personification pointed retired that because of nan alteration successful timing, StubHub will person to resubmit financial information to nan Securities and Exchange Commission (SEC).

Bloomberg had reported successful January 2022 that StubHub had secretly revenge paperwork pinch nan SEC for a direct listing.

StubHub was launched successful 2000 by Erik Baker and Jeff Fluhr, and was purchased by eBay (EBAY) successful 2007 for $310 million. In 2019, Ebay sold it backmost to Baker done viagogo, which he besides founded and was CEO, for $4.05 cardinal successful cash. Baker is now CEO of StubHub.