StubHub Postpones IPO Due to Weak Market Conditions

StubHub, the ticketing company, has postponed its planned initial public offering (IPO) until after Labor Day due to unfavorable market conditions, aiming for a valuation of at least $16.5 billion. The delay requires resubmission of financial data to the Securities and Exchange Commission. StubHub, acquired by eBay in 2007 and repurchased by co-founder Eric Baker in 2020, faces challenges amidst a stagnant market and lack of recent major consumer IPOs.