StubHub Raises $800 Million in IPO as Shares Begin Trading on NYSE Today

StubHub (NYSE: STUB), the online ticket marketplace known chiefly for reselling secondary tickets, has priced its initial public offering at $23.50 per share, valuing the company at roughly $8.6 billion. The IPO will raise about $800 million by selling approximately 34 million shares. Trading of StubHub’s shares begin today on the New York Stock Exchange under the ticker symbol STUB.

Founded in 2000, StubHub initially focused on offering a marketplace for secondary ticket sales, where buyers could purchase tickets from sellers after the primary sale. In recent years, the company has made moves to expand into primary ticket sales through direct issuance from artists and venues, which it sees as a key growth area. StubHub’s history has been marked by changes in ownership and delayed market debuts. Originally acquired by eBay in 2007, the company was reacquired in 2020 by co-founder Eric Baker for about $4 billion when his venture Viagogo, operating in Europe, took over StubHub. 

Financial results leading up to the IPO reveal a mixed picture. StubHub reported a 10% increase in first-quarter revenue, reaching $397.6 million, but at the same time posted a widening net loss of $35.9 million, up from $29.7 million the year before. Revenue growth has slowed, with a modest 3% increase reported in the first half of 2025 compared to the same period in 2024, suggesting challenges in accelerating top-line momentum. Nevertheless, management remains optimistic about opportunities, particularly in boosting primary ticket sales and leveraging its brand and network effects. 

The proceeds from the IPO will be used primarily to pay down debt and for general corporate purposes, according to company statements. Firms like J.P. Morgan and Goldman Sachs managed the offering, which was delayed twice due to volatile market conditions, including uncertainty triggered by tariff announcements earlier this year. The renewed listing attempt this month comes amid a busier IPO market in 2025, with a cluster of firms across cybersecurity, e-commerce, and fintech entering public markets. 

StubHub faces competition from established players in both the primary and secondary ticket markets, including Ticketmaster and SeatGeek. The ticket resale industry has been under scrutiny for controversial pricing practices, including hidden fees and inflated prices, sparking regulatory challenges and lawsuits. Washington, D.C.’s attorney general sued the company last year for allegedly deceptive pricing, and other states have launched investigations into ticket resale pricing and fees. These regulatory concerns add an additional layer of risk for investors. 

Analysts note that StubHub’s current valuation is rich compared to some competitors, with slowing revenue growth and the ongoing losses representing headwinds. Yet, the company aims to capitalize on its well-known marketplace and global customer base spanning more than 200 countries, where millions of tickets change hands annually. The IPO represents a significant milestone in StubHub’s protracted effort to access the public markets, and how the stock performs will be closely watched by those following the broader 2025 IPO environment. 

StubHub’s IPO marks a renewed chapter for the ticket resale pioneer. While the company faces operational and market challenges, it also carries the potential to grow by deepening its footprint in primary ticket sales and utilizing its vast marketplace.