:max_bytes(150000):strip_icc()/GettyImages-2164046478-e7adb10dc0264ef18900ea49d0063d4e.jpg "What You Need to Know About StubHub’s IPO")
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KEY TAKEAWAYS
- Online ticketing reseller StubHub is attempting its third time to go public in the U.S., this time with a valuation that could top $9.3 billion.
- Like BNPL firm Klarna, StubHub is reviving a listing plan that was pulled in April.
- The online ticketing reseller’s planned IPO will be a test of whether the booming initial public offering market extends beyond high-profile tech and crypto firms
StubHub is braving the new listings markets again.
The online ticketing reseller’s planned IPO will be a test of whether the booming initial public offering market extends beyond high-profile tech and crypto firms—in part because the company earlier this year delayed its own listing plans after President Donald Trump’s “Liberation Day” tariffs announcement roiled markets.
The company, which intends to list on the New York Stock Exchange under the symbol “STUB,” said Monday that it plans to sell more than 34 million shares at between $22 and $25 each, raising $850 million at the top end of the range.
StubHub in its Form S-1 filing with the Securities and Exchange Commission said that it would have nearly 373 million shares outstanding after the IPO, assuming an overallotment option is fully exercised. That would translate to a market capitalization over $9.3 billion if the IPO is priced at the top of the range.
Like BNPL firm Klarna, StubHub is reviving an IPO plan that was pulled in April. StubHub had reportedly shelved an even earlier attempt last summer because of weak market conditions in a deal that would have valued it as much as $16.5 billion, according to CNBC. Both Klarna and Gemini, the crypto firm founded by Cameron and Tyler Winklevoss, are expected to go public this week.
StubHub’s IPO Approaches as New Listings Appear Strong
The market has been booming for tech-linked and crypto IPOs, with shares of design software platform Figma (FIG) more than tripling on its debut at the end of July and shares of Peter Thiel-backed crypto exchange Bullish (BLSH) soaring on their debut last month.
U.S. IPOs have so far this year raised more than $40 billion, according to according to Dealogic data, the highest since the same period in 2021, when it hit a record $229.51 billion.
StubHub said that it had a $76 million net loss in the six months of 2025 on revenue of $872.9 million, wider than the $24 million loss it posted the same period last year on revenue of $803.5 million.
The company was launched in 2000 by CEO Erik Baker and Jeff Fluhr, and was bought by eBay (EBAY) in 2007 before being sold back to Baker in 2019. It cites “intense competition” among its risk factors, in no small part because Ticketmaster operator Live Nation Entertainment (LYV) has a market value approaching $38 billion, according to Visible Alpha data.
