StubHub Stock Pops, Then Drops In NYSE Debut

StubHub Holdings, Inc. (NYSE:STUB) made its New York Stock Exchange debut on Wednesday, opening at $25.35 a share after pricing its IPO in the middle of its projected range.

• STUB stock is moving. See all the action here. 

IPO Launch

The offering, priced late Tuesday at $23.50 a share, brought in $800 million for the ticketing company, according to CNBC. 

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StubHub stock now trades under the ticker symbol STUB.

This marks StubHub's successful entry after postponing its IPO twice due to market turmoil, including President Donald Trump's "Liberation Day" tariffs in April and volatility in July 2024.

Market Context

The listing adds to a surge of recent tech IPOs as the U.S. market rebounds from years of inactivity. Klarna, crypto firm Gemini, design software company Figma, Circle and Peter Thiel-backed crypto exchange Bullish have all gone public in recent months.

Investors

Before the IPO, Madrone Partners was StubHub's largest shareholder with 24.5% of Class A STUB shares. WestCap followed with 12.3%, and Bessemer Venture Partners held 8.8% of shares.

Financial Performance

StubHub primarily earns revenue from facilitating sales between ticket resellers and buyers, with more than 40 million tickets sold in 2024 by around one million sellers.

In Q1 2025, revenue grew 10% year-over-year to $397.6 million, though the company reported a net loss of $35.9 million compared with $29.7 million the previous year. 

Gross merchandise sales hit $2.08 billion during that period. 

STUB Price Action: StubHub shares were down 4.8% at $22.37 on Wednesday afternoon, according to data from Benzinga Pro. 

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