Company Overview - StubHub's stock fell 6.4% on its first trading day, closing below its IPO price of $23.50 per share, with a market valuation of approximately $8.1 billion after raising around $800 million from the sale of over 34 million shares [1][2] - The company plans to use the proceeds from its IPO to pay down debt and for general corporate purposes [2] Business Performance - StubHub reported a 3% increase in revenue to $827 million in the first half of 2025 compared to the same period in 2024, indicating a slowdown in revenue growth after a 29% increase in 2024 [4] - The ticket marketplace has facilitated the purchase of over 40 million tickets in 2024, with buyers from more than 200 countries and territories [2] Industry Context - The ticketing industry, including StubHub, has faced criticism for hidden fees and inflated prices, with legal actions taken against the company in Washington, D.C., Pennsylvania, and New York [5] - Ticket prices for concerts and sporting events have risen significantly, with a 5.2% increase in 2024 following a 6.8% rise in 2023, outpacing overall inflation trends [6] Competitive Landscape - StubHub is one of the largest platforms for secondary ticket sales, competing with companies like SeatGeek and Vivid Seats [3]
Ticket marketplace StubHub slips on the public stage in its trading debut on Wall Street