Company Overview - StubHub completed its initial public offering (IPO) by selling 34 million shares at $23.50 each, raising approximately $800 million [2][3][6] - The company's shares began trading under the ticker "KLAR" at $25.35 but closed at $22.17, slightly below the IPO price [2][6] - StubHub's market capitalization is approximately $8.3 billion, with 373 million shares outstanding post-IPO [3] Financial Use of Proceeds - The funds raised from the IPO will primarily be used to pay down debt, as stated by CEO Eric Baker [3][6] Market Context - The IPO market is experiencing a resurgence, with 2025 seeing the highest funds raised since 2021, a record year [4] - StubHub's IPO is part of a busy market that includes recent listings from companies like Klarna and Gemini [6] Company Strategy - CEO Eric Baker expressed optimism about being a public company, highlighting benefits in partnerships, consumer awareness, and talent attraction [4]
StubHub Stock Ends First Trading Session Below IPO Price