Quick Read
- StubHub plans to go public with a $9 billion valuation through an IPO.
- The company will offer over 34 million Class A shares priced between $22 and $25.
- StubHub paused its IPO earlier this year but revived plans amid a stabilized market.
- Recent IPO successes have fueled renewed investor interest in StubHub.
- The company saw a $112 million loss in 2024 but increased revenue to $1.77 billion.
StubHub Holdings, a global leader in the secondary ticketing market, has announced plans to go public with an initial public offering (IPO) aimed at raising as much as $9 billion. The ticketing platform filed its prospectus with the U.S. Securities and Exchange Commission (SEC) on September 8, 2025, signaling a major step in its financial journey. The IPO is expected to price StubHub’s Class A shares between $22 and $25 each, with over 34 million shares up for grabs. If successful, StubHub will list on the New York Stock Exchange (NYSE) under the ticker symbol “STUB.”
A History of Innovation in Ticketing
Founded in 2000 by Eric Baker, StubHub emerged to address inefficiencies in the ticketing market. According to its recent SEC filing, Baker created the platform after struggling to find tickets for a sold-out Broadway show. StubHub transformed the fragmented offline secondary ticketing market into a streamlined online marketplace. Today, the platform operates in over 200 countries and sold more than 40 million tickets in 2024 alone. StubHub further expanded its global reach by merging with its competitor, viagogo, in 2022, marking a significant milestone in its growth trajectory.
Despite its successes, StubHub reported a $112 million net loss in 2024, which was attributed to increased operational costs and competitive pressures. However, the company also saw a revenue increase from $1.37 billion in 2023 to $1.77 billion in 2024, demonstrating its strong market position and growth potential. Fast Company noted that the company’s resilience in a challenging economic environment has rekindled investor confidence.
Why Now? The Market’s IPO Revival
StubHub’s decision to proceed with its IPO comes after a brief pause earlier this year. Originally planned for summer 2025, the IPO was delayed due to economic uncertainties and concerns over tariffs. However, the recent success of other high-profile IPOs, such as Figma and Bullish, has reignited enthusiasm for public listings. According to Reuters, the steadying market and renewed investor interest have provided StubHub with a favorable window to launch its IPO.
StubHub’s IPO roadshow began on September 8, 2025, aiming to drum up investor interest. The company is banking on its reputation as the largest global secondary ticketing marketplace and its proven ability to adapt to market challenges. Analysts view this IPO as a litmus test for the current state of the IPO market, which has seen fluctuating activity in recent years.
Challenges and Opportunities Ahead
While StubHub’s IPO has generated significant excitement, challenges remain. The company faces stiff competition from rivals like Ticketmaster and SeatGeek, as well as regulatory scrutiny over ticket pricing practices. Additionally, its $112 million loss in 2024 underscores the importance of cost management and strategic investment in technology and customer experience.
On the flip side, StubHub’s global reach and innovative platform provide it with a competitive edge. By leveraging data analytics and artificial intelligence, the company aims to enhance its ticketing solutions and customer engagement. According to CNBC, StubHub’s leadership believes that going public will enable the company to accelerate its growth plans and solidify its position as a market leader.
StubHub’s IPO marks a significant moment not only for the company but also for the broader IPO market. With a valuation target of $9 billion, the ticketing giant is poised to attract substantial investor interest. While challenges remain, StubHub’s innovative history and global presence position it well for long-term success.
As the IPO date approaches, all eyes will be on StubHub to see whether it can deliver on its ambitious goals and set a positive precedent for other companies eyeing public listings.