Eric Baker, co-founder and CEO of Ticket reseller StubHub, rings the opening bell throughout his firm’s IPO at the New York Stock Exchange in New York City, U.S., September 17, 2025.
Brendan McDermid | Reuters
StubHub shares opened at $25.35 of their New York Stock Exchange debut on Wednesday after the net ticket vendor priced its IPO in the midst of its anticipated vary.
The pricing late Tuesday at $23.50 per share raised $800 million for the corporate, now trading below ticker image “STUB.”
StubHub’s long-awaited IPO comes after the corporate paused its plans in April, when President Donald Trump’s “Liberation Day” tariffs despatched the stock market right into a tailspin. It was the second such delay, after market volatility compelled StubHub to quickly shelve its IPO plans in July 2024.
The IPO is the most recent in a flurry of tech choices because the market rebounds from a dismal few years. Swedish purchase now, pay later agency Klarna and Gemini, the crypto agency based by Cameron and Tyler Winklevoss, rose of their respective debuts final week. Peter Thiel-backed cryptocurrency exchange Bullish, design software program firm Figma and stablecoin issuer Circle have additionally hit the market in current months.
StubHub has been by way of plenty of transactions in its 25-year historical past to get up to now. It was bought by eBay for $310 million in 2007, however was reacquired by its co-founder Eric Baker in 2020 for roughly $4 billion by way of his new firm Viagogo.
StubHub has benefited from a resurgence within the reside occasions market within the years following the Covid lockdowns. Sales have additionally boomed from massively standard reveals like Taylor Swift’s Eras Tour and Beyoncé’s Renaissance Tour, in addition to sporting occasions just like the Super Bowl.
The firm mentioned in its updated prospectus filed final month that these kinds of occasions can even make StubHub’s revenues lumpy and tough to foretell.
In the primary quarter, StubHub reported income development of 10% from a yr earlier to $397.6 million. Its internet loss widened to $35.9 million from $29.7 million a yr in the past. Gross merchandise gross sales, which symbolize the full greenback worth paid by ticket consumers, reached $2.08 billion within the three months ended March 31.
StubHub primarily generates income from connecting consumers with ticket resellers. More than 40 million tickets had been bought on StubHub’s market final yr from roughly a million sellers, the corporate mentioned in August.
It competes with Vivid Seats, which was taken public by way of a particular function acquisition firm in 2021, SeatGeek and Ticketmaster guardian Live Nation Entertainment.
The Federal Trade Commission is within the superior levels of probing Ticketmaster over whether or not it is completed sufficient to maintain automated bots from circumventing its per-person ticket limits for standard occasions, Bloomberg reported Monday, citing folks aware of the matter.
The FTC in May despatched a warning letter to StubHub saying it should adjust to the company’s “junk fees” rule and alleging a few of its ticket listings didn’t show the full value, together with all necessary charges and costs.
Madrone Partners is StubHub’s largest investor with possession of 24.5% of Class A shares previous to the providing. WestCap is second at 12.3%, adopted by Bessemer Venture Partners at 8.8%.
WATCH: StubHub CEO on IPO
