StubHub postpones IPO until after Labor Day.

• According to a source, StubHub has postponed its potential initial public offering until after Labor Day.
• The online ticketing service had been considering an IPO during the summer with a valuation of at least $16.5 billion.
• The company has postponed its efforts due to stagnant market conditions and the absence of a significant consumer IPO in recent months.

According to a source, StubHub has postponed its potential initial public offering until after Labor Day.

The online ticketing service had planned to launch an IPO this summer with a valuation of at least $16.5 billion. However, due to stagnant market conditions, the company has decided to postpone its efforts. With no major consumer IPOs in recent months, it has been challenging to determine investor demand.

Over the past two years, the company has collaborated with JPMorgan and Goldman Sachs on the IPO, according to CNBC's previous report. StubHub declined to provide any comment.

Since its launch in 2000, StubHub has been a prominent player in the ticketing industry. It was acquired by eBay for $310 million in 2007, but was later reacquired by its co-founder Eric Baker in 2020 for $4 billion through his new company Viagogo.

SeatGeek, an online ticketing rival, has been considering an IPO this year, according to reports. In early June, Bloomberg reported that Citigroup and Wells Fargo joined Morgan Stanley in SeatGeek's planned listing. The news outlet also reported that the company was seeking a valuation above $1.35 billion.

If StubHub goes public, it will compete with Vivid Seats and Live Nation, which are valued at $1.5 billion and $23 billion, respectively.

The live events marketplace has flourished due to the Covid-19 pandemic, as people have shifted towards out-of-home entertainment and experiences. Ticketing companies have experienced a surge in revenues, thanks to record-breaking concert ticket sales, such as those for Taylor Swift's Eras Tour and Beyoncé's Renaissance Tour.