Ticket sales platform Stubhub Holdings Inc. Deposited for a first public offer disclosing income growth and a small annual loss for 2024.
Stubhub underwent a loss of $ 2.8 million over a turnover of $ 1.77 billion last year, against a net income of $ 405 million on turnover of $ 1.37 billion in 2023, according to his file on Friday with the Securities and Exchange Commission. The adjusted profit in 2024 adjusted from the company before interest, taxes, depreciation and depreciation of $ 299 million, although in relation to the previous year, contrasting with a loss of $ 57 million in 2022.
The company based in New York will not disclose the size size or the price range offered for the sale of shares before a future deposit when it is ready to start marketing the offer to investors.
Stubhub had prepared for an IPO last year after sales exploded from the Eras tour of Taylor Swift, to postpone these plans quoting unfavorable market conditions, Bloomberg News reported in July.
The managing director Eric Baker, one of the co-founders of Stubhub, left before the company was sold in 2007 to Ebay Inc. for $ 310 million. Baker then founded Viagogo in Europe. In 2019, Viagogo agreed to acquire Stubhub for $ 4.05 billion. The agreement was concluded the following year, the combined company continuing to do business under the two names.
Baker holds 5.2% of class A shares and, with its class B shares which bear 100 votes each, holds more than 90% of the company's voting power before the offer, according to the deposit.
Madrone Partners LP has a 27% participation in the company and 2.8% of the voting power, while Westcap Management holds a participation of 11% and Bessemer Venture Partners held 9.6%. Madrone and Bessemer have consulting seats in the company.
On its ticket platforms, Stubhub and Viagogo, ticket operations cover more than 200 countries, according to Stubhub website.
The offer is directed by Jpmorgan Chase & Co. And Goldman Sachs Group Inc. as well as more than 10 other banks. The company provides that its shares are negotiated on the New York Stock Exchange under the symbol heel.
Lipschultz and Roof write for Bloomberg, with the help of Gillian Tan.
