StubHub Seeks $9 Billion Valuation in IPO Filing

Lead: Secondary ticketing marketplace StubHub Holdings filed its S-1 registration with the U.S. Securities and Exchange Commission on September 10, aiming for a valuation of approximately $9 billion as it prepares to list on the New York Stock Exchange under the ticker “STUB”.

Nut Graf: The filing marks StubHub’s return to public markets after postponing its IPO earlier this year amid tariff-related volatility. With equity markets rebounding and consumer demand for live events surging, the company is targeting up to $851 million in proceeds to fund growth and capitalize on a renewed investor appetite for experience-driven businesses.

IPO Filing Details

  • StubHub plans to offer roughly 34 million Class A shares at an anticipated price range of $22-$25 per share, potentially raising $851 million.
  • The offering would assign StubHub a market capitalization near $9 billion and position it as one of the year’s largest U.S. IPOs.
  • J.P. Morgan and Goldman Sachs are listed as lead underwriters on the registration statement.

Market Context

After pausing its IPO plans in April due to uncertainty over U.S. trade policy, StubHub joins a wave of companies returning to public markets this autumn. Industry experts cite clearer tariff outlooks and expectations of Federal Reserve rate cuts as supportive factors for debuting firms.

Subheading: IPO Resurgence Signals Investor Confidence

  • Nearly 100 U.S. IPOs have been announced in 2025’s third quarter, making it the busiest period for public listings since early 2022.
  • Live-event platforms like StubHub stand to benefit from growing consumer preferences for out-of-home experiences and robust secondary ticket sales.
  • Analyst Christine Short of TMX Group notes that StubHub is likely to begin trading next week, reflecting the sector’s renewed momentum.

Subheading: Company Performance and Risks

  • StubHub’s first-half 2025 revenue rose 3 percent year-over-year to $827.9 million, though net losses widened to $111.8 million.
  • Management cites durable demand for live events but acknowledges that any downturn in event scheduling or attendance could materially affect results.

This IPO filing positions StubHub at the forefront of the capital markets recovery, offering investors exposure to the expanding live-events ecosystem while testing whether consumer-focused listings can sustain early-year gains.