TLDR
- StubHub priced its IPO at $23.50 per share, raising $800 million and valuing the company at $8.6-$8.8 billion
- The ticket resale platform sold 34 million shares within its expected price range of $22-$25
- StubHub’s revenue grew 29.5% in 2024 to $1.77 billion, though the company posted losses in both Q1 2025 and full year 2024
- This marks the company’s third attempt at going public after pulling back in April due to market turmoil
- Trading begins today on the New York Stock Exchange under ticker symbol “STUB”
StubHub successfully priced its initial public offering late Tuesday at $23.50 per share. The online ticket resale platform raised $800 million from the deal.
The company sold 34 million shares at the midpoint of its expected range. StubHub had set a price range between $22 and $25 per share for the offering.
The pricing gives StubHub a valuation of approximately $8.6 to $8.8 billion. Different sources cite slightly different valuations based on share count calculations.
StubHub shares are set to begin trading Wednesday on the New York Stock Exchange. The company will trade under the ticker symbol “STUB.”
This marks StubHub’s third attempt at going public. The San Francisco-based company previously filed for an IPO in March before pulling back.
The company withdrew its initial plans due to market turmoil caused by President Trump’s tariff announcements. Several other companies also delayed their IPO plans during that period.
Recent Financial Performance
StubHub’s revenue climbed 29.5% in 2024 to $1.77 billion. The 25-year-old company processed more than 40 million ticket sales across 200 countries last year.
Sales grew 10% in the first quarter ending in March to $397.6 million. However, the company posted a net loss of $22.2 million in Q1 2025.
StubHub also reported a net loss of $2.8 million for the full year 2024. The company connects buyers and sellers of tickets and generates revenue primarily from transaction fees.
The platform covers sporting events, concerts and Broadway shows. StubHub estimates the global market for ticket sales and related services exceeds $700 billion.
Current CEO Eric Baker co-founded the company in 2000. EBay acquired StubHub for $310 million in 2007.
Market Conditions and Competition
The StubHub IPO comes during a busy period for new public offerings. Last week saw seven large IPOs, marking the busiest week since 2021.
Recent successful debuts include buy now, pay later firm Klarna and crypto exchange Gemini. Both companies saw their shares rise around 15% on their trading debuts this month.
The IPO market has recovered after a challenging period earlier this year. Funds raised in 2025 already represent the most since the record year of 2021.
StubHub faces fierce competition in the ticket resale market. TicketMaster, owned by Live Nation, dominates the primary ticket sales market.
The company also competes with smaller providers like Vivid Seats and SeatGeek. Vivid Seats stock has declined 80% year-to-date, showing the challenges in the sector.
Regulators have increased scrutiny of the ticket industry. The FTC is investigating TicketMaster’s efforts to prevent automated systems from buying and reselling tickets.
The combined StubHub-Viagogo entity formed in 2020 when Viagogo purchased StubHub from eBay for approximately $4 billion. Baker, who had also founded Viagogo, became CEO of the merged company.
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