StubHub Raises $800 Million, Debuts on NYSE

Lead: Online ticket reseller StubHub began trading on the New York Stock Exchange today under the ticker STUB after pricing its IPO at $23.50 per share, raising $800 million and valuing the company at $8.6 billion.

Nut Graf: The offering marks StubHub’s third attempt to go public and comes amid a revived IPO market in 2025, providing fresh capital to reduce debt, invest in growth initiatives and strengthen its position in the competitive live-events ecosystem.

Pricing and Proceeds

Offered 34 million Class A shares at $23.50 each, the midpoint of its $22-$25 target range, generating $800 million in gross proceeds.
Post-IPO valuation stands at approximately $8.6 billion based on 373 million shares outstanding.

Trading Debut

Shares commenced trading on September 17, 2025, on the NYSE under “STUB,” with lead underwriters J.P. Morgan and Goldman Sachs.
Investor demand had been notably strong, with reports of oversubscription exceeding 20 times during the book-building process.

Strategic Outlook

Debt Reduction: A significant portion of proceeds earmarked to pay down existing credit facility balances.
Growth Investments: Capital to support expansion into emerging markets, technology upgrades for fraud detection, and enhanced customer experience.
Market Dynamics: StubHub enters public markets alongside peers like Vivid Seats and faces competition from Live Nation’s Ticketmaster platform.

Company Background

Founded in 2000 by Eric Baker and Jeff Fluhr, StubHub was acquired by eBay in 2007 and reacquired by Baker in 2020 through Madrone Partners. The platform processes over 40 million tickets annually across 200+ countries and has navigated previous IPO delays triggered by market volatility in April 2025.