StubHub, a major online ticket marketplace, has officially completed its initial public offering (IPO), bringing in $800 million in new capital. This marks a significant milestone for the company, as this was its third effort to go public, finally achieving success. The shares were priced at $23.50 each, which was the middle of the projected price range of $22 to $25. This pricing gives StubHub a total market value of roughly $8.8 billion. The calculation is based on the company’s disclosure in its filing, which states it will have 373 million shares available after the IPO, assuming all additional shares are sold.
The company, which is based in San Francisco and was founded by CEO Eric Baker, began trading its stock on the New York Stock Exchange today under the ticker symbol “STUB.”
This successful public offering comes after a previous attempt was postponed. StubHub’s last plan to go public was in April, but it was pulled back due to market instability caused by new tariffs. At that time, many other companies, including Klarna, also postponed their plans to sell stock to the public. However, the IPO market has since recovered, with the amount of money raised so far this year being the highest since 2021, a year that set a record for public listings.
Despite the recent improvement in the market, the performance of newly listed stocks has been less dynamic than a few months ago. For instance, shares of the design software company Figma more than tripled in value on their first day of trading. In comparison, shares of other recent companies, such as the “buy now, pay later” firm Klarna and the Gemini crypto exchange, owned by the Winklevoss twins, saw more modest gains of around 15% on their debut.
StubHub’s accomplishment is a clear indicator of the renewed confidence in the public markets. The company’s successful listing will not only provide it with substantial funds for future growth but also solidify its position as a major player in the online ticketing industry.
[H/T] Investopedia
*Image credit cover: Getty Images
