StubHub appears to be moving forward with its long-anticipated initial public offering. The company, which filed a public S-1 in late March, paused the process in April after tariffs introduced by the Trump administration unsettled financial markets.
On Monday, StubHub submitted an updated S-1 filing that includes its first quarter results for 2025. According to IPO research firm Renaissance Capital, the company’s public debut could now take place as early as next month. Back in March, the firm estimated that the IPO could raise around 1 billion dollars.
When asked about the timeline, StubHub declined to comment, citing its ongoing quiet period.
In 2024, StubHub reported nearly 1.8 billion dollars in revenue, alongside a net loss of 2.8 million dollars. Its largest shareholder is Madrone Partners with a 27.1 per cent stake, followed by WestCap Management with 10.8 per cent and Bessemer with 9.6 per cent.
Founder and Chief Executive Officer Eric Baker holds 5.2 per cent of the company’s Class A shares. However, he owns all of the Class B super-voting shares, amounting to 4.95 million. This gives him control of 90 per cent of the shareholder voting power.
The updated filing signals that StubHub’s IPO ambitions remain strong despite earlier setbacks, with market watchers closely observing whether investor sentiment will be more favourable this time.
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