StubHub Stock Debuts at $23.50 After $800 Million IPO

NEW YORK- Ticket resale platform StubHub Holdings began trading on the New York Stock Exchange Wednesday under the ticker “STUB” after pricing its initial public offering at $23.50 per share, raising $800 million.

The long-awaited IPO marks StubHub’s third attempt to go public and values the company at approximately $8.6 billion, underscoring renewed investor appetite for high-profile listings despite market volatility.

IPO Pricing and Valuation

• Offered 34 million shares at $23.50 each, within the marketed $22-$25 range.
• Raised $800 million in gross proceeds, implying an $8.6 billion valuation pre-overallotment.
• Underwriters hold an overallotment option for an additional 5.11 million shares, potentially boosting the valuation to $8.76 billion.

Trading Debut

Shares began trading today, with investors closely monitoring initial performance amid tepid first-day pops for recent IPOs. The listing follows two prior postponements triggered by market disruptions in April and tariff-driven volatility earlier this year.

Financial Highlights

StubHub reported:

• $1.77 billion in revenue for 2024, up 29.5% year-over-year.
• $397.6 million in Q1 2025 sales, a 10% increase, but a net loss of $222 million in that quarter.
• Over 40 million tickets transacted in 2024 across 200 countries.

Market Context

The IPO rush resumed this week after a lull, fueled by successful debuts from fintech and crypto platforms. StubHub’s entrance arrives as investors weigh consumer spending resilience against regulatory scrutiny of ticket fees and resale practices. Competitors include Live Nation’s Ticketmaster, SeatGeek and Vivid Seats, the latter’s stock down 80% year-to-date.