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StubHub Targets $9.2B Valuation in U.S. IPO Amid Live Events Boom

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StubHub, the ticket resale platform backed by Madrone Partners, is seeking a valuation of up to $9.2 billion in its planned U.S. IPO, the company said Monday. The listing comes after being postponed in April due to tariff uncertainty, making StubHub one of the latest firms to return to equity markets following improved sentiment.

The New York-based firm aims to raise up to $851 million by selling 34 million shares at a price range of $22 to $25 each, with J.P. Morgan and Goldman Sachs leading the underwriting. Shares will trade on the NYSE under the ticker “STUB.”

StubHub has had a winding ownership history: founded in 2000 by Jeff Fluhr and Eric Baker (now CEO), it was sold to eBay in 2007 for $310M before being acquired by Baker’s other venture viagogo for $4.05B in 2020. The company was once valued at $16.5B in 2021, though its current IPO target is well below that.

Despite cautious pricing, some investors suggest the IPO may price higher, given strong demand for live events. Rival Live Nation’s Ticketmaster has seen record ticketing volumes driven by blockbuster tours such as Beyoncé’s “Cowboy Carter.” StubHub’s own revenue rose 3% to $827.9M in the first half of 2024, though net losses more than doubled to $111.8M.

The IPO will test investor appetite for consumer-focused platforms in a market dominated by tech and crypto listings. As IPO strategist Matt Kennedy put it: “The bankers will also try to sell the deal on its valuation, which is below prior expectations.”

If successful, StubHub could capture investor enthusiasm for the booming experience economy, even as regulatory and competitive pressures linger in the ticketing industry.

Ticket Pricing Controversy Casts Shadow Over Oasis Reunion Excitement

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The highly anticipated Oasis reunion has been marred by controversy as fans grapple with the impact of dynamic pricing on ticket sales. Fans who spent hours in virtual queues were dismayed to find ticket prices more than doubled from their advertised rates. This issue has sparked significant backlash and raised questions about fairness and transparency in ticket pricing.

John, an Oasis fan from Burnley, and his family were among those affected by the surge in ticket prices. Despite spending a total of six hours in the online queue, they were only able to secure tickets at £355 each, far above the initial £135 advertised price. John expressed his frustration, stating that the price increase felt like a betrayal of the band’s working-class roots and criticized the pricing strategy as unfair.

Dynamic pricing, which adjusts ticket costs based on demand, has drawn sharp criticism. Critics argue that it exploits fans by raising prices during high demand, leaving many feeling cheated after long waits. Nicholas from Macclesfield labeled it as “greed” and called for accountability from the band, while others questioned the extent of the Gallaghers’ awareness and involvement in the decision.

Ticketmaster, the platform handling the sales, has defended the system, stating that ticket prices are set by event organizers and not by them. However, the involvement of major promoters like SJM and Live Nation in the decision-making process has been highlighted. The Gallaghers’ level of influence over these decisions remains unclear.

Dynamic pricing has faced criticism before, with past instances involving other major artists like Bruce Springsteen, who defended the approach as a means to ensure artists benefit from higher demand rather than scalpers. Despite this, the practice has been controversial, leading to discussions about potential legislative reforms to regulate such pricing strategies.

The Oasis reunion shows ultimately sold out, driven by high demand for what many fans consider a “once-in-a-lifetime” experience. However, the controversy has led to calls for greater transparency in ticket pricing and a review of existing practices. The British government has responded by considering this issue in its ongoing review of ticket reselling.

Music journalist John Robb and other commentators have criticized the lack of price stability and suggested that dynamic pricing might be outdated. The broader implications for the band’s reputation remain to be seen, but the upcoming reunion could test whether fans are willing to overlook these issues for the sake of the music.

Oasis Fans Struggle for Tickets as Band Cracks Down on Reselling

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Fans of Oasis are facing major challenges securing tickets for the band’s highly anticipated comeback tour, with widespread issues reported on ticketing websites. The band, which has recently reunited after a 15-year split, has urged against reselling tickets at inflated prices and warned that such tickets will be canceled.

Tickets for the UK dates, which include shows at Wembley Stadium and other major venues, went on sale at 09:00 BST, but fans encountered problems even before the sales started. Many found themselves in extensive queues, with over a million people ahead of them for popular London gigs. Reports of being redirected to a “queue for the queue” and being falsely flagged as “bots” further complicated the process.

Similar issues were noted for the Irish dates at Dublin’s Croke Park, with early ticket sales also facing access problems. Ticketmaster advised fans to be patient, avoid using multiple tabs, and clear cookies to improve their chances.

In the wake of the pre-sale, resale websites like StubHub and Viagogo have listed tickets for exorbitant prices, sometimes reaching up to £6,000 for a standing ticket at Wembley Stadium—about 40 times the original price. Official ticket prices range from approximately £150 for standing tickets to £506 for premium packages. Promoters have warned that tickets resold for more than face value on unauthorized platforms will be canceled.

The band’s reunion was announced earlier this week, marking a significant moment for fans and the music industry, as the band’s back catalogue has seen a resurgence in sales and streaming. Oasis, known for their hit albums such as “Definitely Maybe” and “What’s The Story Morning Glory,” is set to embark on a 17-concert tour across the UK and Ireland next summer.