Core Viewpoint - StubHub Holdings Inc. successfully completed its IPO, raising $800 million at a share price of $23.50, achieving a market valuation of $8.64 billion, marking a significant milestone for the company and its co-founder Eric Baker [1][5]. Group 1: IPO Details - StubHub priced its IPO at the midpoint of its proposed range, selling 34 million shares with a valuation of $8.64 billion based on the IPO price [1]. - The IPO was underwritten by major banks including JPMorgan and Goldman Sachs, with shares expected to begin trading on the New York Stock Exchange under the ticker "STUB" [5]. Group 2: Market Context - The U.S. IPO market has been active, raising approximately $4.7 billion since September 1, excluding SPACs, with several companies experiencing significant stock price increases on their debut [1]. - StubHub's IPO comes amid increased scrutiny of the ticketing industry, particularly regarding practices at Ticketmaster, which is under investigation by the FTC [3]. Group 3: Company Background and Financials - StubHub's IPO follows a long pursuit of going public, initially aiming for a valuation exceeding $13 billion, which was postponed due to unfavorable market conditions [2]. - For the six months ending June 30, StubHub reported revenue of $827.9 million and a net loss of $76 million, compared to $803.5 million in revenue and a net loss of $24 million in the same period last year [5]. - The company is expanding its new ticketing business, which currently represents a small portion of its overall sales, and has secured a multi-year partnership with Major League Baseball [2]. Group 4: Leadership and Ownership Structure - Co-founder Eric Baker, who previously founded Viagogo, retains significant control over StubHub post-IPO, holding 4.2% of Class A common stock and 88.3% of voting power through Class B shares [4]. - Other investors, including Madrone Partners LP and WestCap Management, will hold 2.7% and 1.3% of voting power, respectively, with both having board representation [4].
联合创始人长年夙愿达成！StubHub(STUB.US)IPO定价23.5美元募资8亿 今晚登陆纽交所