StubHub delays IPO due to market conditions - WSJ

StubHub is delaying the start of its initial public offer until at least September due to a choppy stock market. 

The ticket marketplace was planning to file paperwork by the end of the week, but the timing has shifted, according to a WSJ report on Friday, which cited a person familiar with the matter. The delay is likely until after Labor Day. 

The news comes after Bloomberg reported last month that a StubHub IPO could come as soon as this month. StubHub is hoping to get a valuation of $16.5 billion that it was valued at in late 2021 when it last raised funding.

StubHub competes with publicly traded rivals such as Vivid Seats (SEAT) and Live Nation (LYV). Vivid Seat has a market cap of $1.2 billion, while Live Nation is valued at $22 billion.