StubHub, the popular ticket exchange and resale company, is reportedly preparing to go public this summer. It is eyeing a valuation that surpasses its most recent private funding round in 2021, which valued the company at $16.5 billion. Leslie Picker of CNBC first reported this development, marking a significant move in the company’s over two-decade history.

Eric Baker, CEO of StubHub and one of its original co-founders, is at the helm of this strategic move. Baker, who sold StubHub to eBay in 2007 for approximately $310 million, reacquired the company in 2020 for $4 billion through Viagogo, another company he founded. This bold repurchase was seen as a significant bet on the future of live events amid the fluctuating dynamics of the global entertainment industry.

The decision to go public, confirmed by a source familiar with the matter and corroborated by reports from The Information, comes at a time when the market for IPOs is beginning to show signs of life. During recent bank earnings calls, financial executives have hinted that the market environment is becoming more favorable for new stock listings, particularly in the year’s second quarter.

While StubHub has declined to comment on its IPO plans, the move is aligned with current market trends, where investors and companies are becoming increasingly optimistic about public listing prospects. This shift is particularly notable given the previous freeze in the IPO market, which was attributed to economic uncertainties and less favorable market conditions.

If successful, StubHub’s public debut would mark a significant turnaround for the company under Baker’s leadership and potentially set a higher benchmark for valuations in the tech and entertainment sectors. This IPO could energize the market, encouraging other tech firms to consider going public.

The timing for StubHub’s IPO seems opportune as the live entertainment sector recovers from the impacts of the COVID-19 pandemic. With increased public gatherings and live events resuming globally, this sector rebound is playing a crucial role in defining market readiness for new public listings, making StubHub’s move a potentially pivotal moment for the industry.

As the market for initial public offerings warms up, all eyes will be on StubHub and its ability to capitalize on this momentum. The success of its IPO could herald a new era for the live event ticketing market and tech IPOs in the broader economic landscape.