Core Viewpoint - Ticket reseller StubHub has priced its initial public offering (IPO) at $23.50 per share, which is within the marketed range of $22 to $25, raising approximately $800 million [1] Group 1 - StubHub's IPO pricing is set at $23.50, aligning with its anticipated range [1] - The company aims to raise about $800 million through this IPO [1] - This IPO marks a significant milestone for StubHub, which has been long-awaited [1]

Accessibility StatementSkip Navigation NEW YORK, Sept. 16, 2025 /PRNewswire/ -- StubHub Holdings, Inc. ("StubHub"), a leading global secondary ticketing marketplace for live events, today announced the pricing of its initial public offering of 34,042,553 shares of its Class A common stock at a public offering price of $23.50 per share. In addition, StubHub has granted the underwriters a 30-day option to purchase up to an additional 5,106,382 shares of its Class A common stock at the initial public offering ...

Company Overview - StubHub is pursuing an IPO aiming for a valuation of $9.2 billion, transitioning from a secondary market to a direct primary ticket sales platform [1][3] - The company seeks to raise up to $851 million in its debut on the New York Stock Exchange [1][3] Financial Performance - StubHub reported $1.77 billion in revenue for 2024, a 30% increase from $1.37 billion in 2023 [4] - However, profitability has declined, with a loss of $2.8 million in 2024 compared to a profit of $405 million in 2023 [5] - Adjusted EBITDA margins fell from 26% in 2023 to 17% in 2024, and further to 12% in the first half of 2025, below the long-term goal of 35-40% [5] Market Dynamics - The ticketing industry is experiencing a shift, with StubHub aiming to capitalize on the $153 billion primary ticket sales market while facing competition from Ticketmaster [3][9] - Ticketmaster is under scrutiny from regulators regarding compliance with the BOTS Act, which could impact its operations and market position [6][8] Consumer Trends - High-income households are reallocating discretionary spending towards live entertainment, indicating a shift towards an "experience-first" economy [10] - There is a widening gap in demand, with premium events remaining strong while middle-income households are reducing spending [11] - Consumers value reliable digital access, suggesting that platforms providing smooth purchasing experiences are likely to build lasting loyalty [11]

The StubHub logo is seen at its headquarters in San Francisco.Online ticket platform StubHub is pricing its IPO at $23.50, CNBC's Leslie Picker confirmed on Tuesday.The pricing comes at the midpoint of the expected range that the company gave last week. At $23.50, the pricing gives StubHub a valuation of $8.6 billion. StubHub will trade on the New York Stock Exchange under the symbol "STUB." The San Francisco-based company was co-founded by Eric Baker in 2000, and was acquired by eBay for $310 million seven ...

Core Viewpoint - StubHub, a soon-to-be-public company, defends its role in the secondary ticket market despite facing criticism for high ticket prices [1] Company Summary - StubHub argues that it serves a necessary function in the market, indicating its importance in facilitating ticket sales [1]

Core Insights - StubHub's gross merchandise sales (GMS) increased from $4.8 billion in 2022 to $8.7 billion in 2024, with revenues growing from approximately $1 billion to $1.8 billion during the same period [1][2] - The company is planning to raise around $850 million through an IPO, selling 34,042,553 Class A shares at an expected price range of $22 to $25 per share, which would value the company at about $9.2 billion [3] - StubHub aims to expand its business beyond secondary ticketing into primary ticket issuance, advertising, sports merchandising, and sports betting, with a valuation of its North American secondary ticketing business at approximately $17.5 billion [9][11] Financial Performance - StubHub reported a net income of $405.2 million in 2023, but net losses of $261 million in 2021 and $2.8 million in 2024 [6] - The company generated positive cash flow from operations, with net cash flow from operating activities turning positive at $261.5 million in 2024, up from a negative $47.5 million in 2022 [6] - StubHub's cash balance at the end of 2024 was about $1 billion, which is half of its long-term debt of $2.3 billion, indicating a negative working capital balance of $1.04 billion [7] Market Position and Strategy - StubHub operates the largest global secondary ticketing marketplace, facilitating ticket sales in over 90 countries and supporting 33 languages and 48 currencies [8] - The company is focusing on signing more rights holders to make its platform the primary outlet for initial ticket sales, as seen in recent agreements with the Association of Volleyball Professionals and the Outside Lands festival [10] - StubHub is also exploring new revenue channels, including advertising, sports merchandising, and potential entry into the wider market for tours and attractions [11][12] Competitive Landscape - StubHub faces significant competition from established players like Ticketmaster in secondary ticketing, and from companies like DraftKings and Fanatics in sports betting [13] - The company must navigate challenges such as dependence on high-profile events and potential reductions in discretionary spending among consumers due to economic uncertainties [14] Strategic Focus - While StubHub has a strong brand in secondary ticket sales, it should prioritize growing this core business and be cautious about diversifying into other areas to avoid overextension [15] - The company's effective working capital management and rising revenues position it as a suitable investment candidate, provided it maintains focus on its primary business [16]

StubHub is expected start trading Wednesday, with its IPO proceeds aimed at reducing debt and outpacing rivals like Ticketmaster. ...

Group 1: IPO Market Overview - The post-Labor Day IPO market is experiencing a resurgence, driven by clarity on trade policy, a summer rally in growth stocks, and the potential for rate cuts [1] - Renaissance Capital anticipates the fastest pace of deal activity since 2021, with expectations of 40 to 60 sizable IPOs by year-end [2][1] Group 2: StubHub IPO Details - StubHub has refiled its IPO paperwork and plans to sell approximately 34 million shares at a price range of $22 to $25 each, potentially raising up to $850 million [5][6] - The company's valuation is estimated at $9.2 billion, significantly lower than its previous valuation of $16.5 billion in late 2021 [6] Group 3: StubHub Financial Performance - StubHub reported gross merchandise sales of $8.7 billion in 2024, a 27% increase from the previous year, with over 40 million tickets sold [7] - In the first half of 2025, StubHub's revenue rose 3% year-over-year to $827.9 million, but the net loss widened to $76 million from $24 million in the same period of 2024 [8] Group 4: IPO Performance Insights - The average first-day return for IPOs in 2025 has been strong, at 26%, marking the highest since 2020 [10] - Despite strong first-day performance, returns after the first day for the first year have generally been weak, indicating potential volatility in the IPO market [10]

Company Overview - StubHub, a ticket reseller, has experienced significant demand for its upcoming IPO, with over 20 times as many orders as available shares, indicating strong investor interest in tech-heavy consumer platforms [1] - The company is targeting a valuation of up to $9.2 billion and aims to raise up to $851 million by offering 34 million shares priced between $22 and $25 each [3] Market Context - StubHub had previously postponed its IPO roadshow due to market volatility caused by U.S. tariffs, which affected global markets and dealmaking [2] - Recent trends show a resurgence in U.S. IPOs, with various companies successfully tapping public markets amid record high equity markets and reduced tariff concerns [2] Historical Background - StubHub was co-founded in 2000 by Jeff Fluhr and current CEO Eric Baker, who left the company before its $310 million sale to eBay in 2007 [4] - In 2020, viagogo, a rival ticket reseller founded by Baker, acquired StubHub from eBay for $4.05 billion [4] Underwriting and Listing - J.P. Morgan and Goldman Sachs are the lead underwriters for StubHub's IPO [4] - The company plans to list on the New York Stock Exchange under the ticker symbol "STUB" [4]

Core Insights - The article expresses a negative sentiment towards StubHub's user experience post-merger with Viagogo in early 2020, indicating a decline in service quality [1]. Company Analysis - StubHub's initial public offering (IPO) is being approached with skepticism due to perceived deterioration in user experience since the merger [1]. Industry Context - The article reflects on the broader implications of mergers in the ticket resale industry, suggesting that such consolidations may not always lead to improved customer satisfaction [1].