Online ticketing platform StubHub has officially priced its initial public offering (IPO) at $23.50 per share, positioning the company with a market valuation of approximately $8.6 billion. The pricing sits in the middle of the expected range and sets the stage for StubHub to make its debut on the New York Stock Exchange under the ticker symbol “STUB.” Trading is scheduled to begin on Wednesday.
Founded in San Francisco in 2000 by Eric Baker, StubHub quickly became a leading name in online ticket resales. The company was purchased by eBay in 2007 for $310 million before Baker reacquired it in 2020 for around $4 billion through Viagogo, a European ticket marketplace he also founded. Baker’s reacquisition of StubHub set the stage for a renewed push to bring the company public.
StubHub has been working toward an IPO for years but faced multiple delays. Its most recent postponement came in April amid market volatility. The company revived its plans by filing an updated prospectus in August, aligning its move with a rebound in the broader IPO market. Several other high-profile companies have recently launched successful debuts, including Klarna, cryptocurrency exchange Bullish, stablecoin issuer Circle, and design software firm Figma, reflecting renewed investor appetite for public offerings after a prolonged slowdown caused by inflation and rising interest rates.
StubHub’s valuation fell short of its earlier ambitions. The company had once sought a market cap as high as $16.5 billion when it began preparing for a listing. Even at the top end of its recent pricing range, StubHub would have reached $9.2 billion, still well below its initial target.
Financially, StubHub’s latest filing shows both growth and challenges. In the first quarter, the company reported revenue of $397.6 million, a 10% increase year-over-year. Operating income for the period reached $26.8 million. However, net losses also widened, climbing to $35.9 million compared with $29.7 million a year earlier.
Despite these mixed results, StubHub’s IPO signals confidence in its long-term position within the live event and ticketing industry. With its established global presence, a well-recognized brand, and Eric Baker once again at the helm, the company is betting on public investors to back its growth strategy. The offering marks a pivotal moment for StubHub as it seeks to solidify its future in an increasingly competitive and technology-driven market.
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