Ticketing platform StubHub valued at $9.3 billion in NYSE debut
Shares of StubHub rose about 8 per cent in their New York Stock Exchange debut on Wednesday, valuing the ticket reseller marketplace at $9.32 billion, adding to a streak of positive day-one receptions for technology platforms.
The New York-based company's stock opened at $25.35 per share, compared with the offer price of $23.5.
StubHub raised nearly $800 million in its long-awaited U.S. IPO by selling 34 million shares, pricing within its marketed range of $22 to $25 apiece, less than six months after delaying its listing plans due to volatility from the tariff policies of President Donald Trump.
"It is just a step in the road for what we want to build and to ultimately become the destination for all live events and all tickets," StubHub co-founder and CEO Eric Baker told Reuters in an interview.
"It is really a deleveraging event for us to raise the capital, to pay down debt."
IPOs have staged a triumphant return to U.S. exchanges this fall after years of sluggish activity due to higher interest rates and inflated valuations.
Debuts for Swedish fintech Klarna, blockchain lender Figure and crypto exchange Gemini have headlined one of the busiest IPO windows since 2021.
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StubHub's debut could prove a barometer for a sector where competitors, except Ticketmaster-parent Live Nation, have struggled to succeed in public markets.
StubHub's revenue grew 3 per cent in the first half of 2025, half of Live Nation's 6 per cent growth in the same period.
Rival Vivid Seats, which was taken public via a special purpose acquisition company in 2021, is down nearly 82 per cent this year after shedding 27 per cent last year. The company was reportedly exploring a sale in December.
"With revenue growth still slow and the industry under scrutiny for fees and fairness, investor appetite looks more measured than exuberant," said Kat Liu, vice president at IPO research firm IPOX.
As ticket-selling platforms benefit from an explosion in consumer appetite for outdoor events, record consumer rush for events such as Taylor Swift's "The Eras Tour" has also meant heightened scrutiny of reseller practices.
The U.S. Federal Trade Commission has sought information from artists and fans about unfair and anticompetitive practices in the live concert and event industries as part of a crackdown by the Trump administration on ticket scalping.
Trump signed an executive order in March aimed at protecting fans from "exploitative ticket scalping" and reforming the live entertainment ticketing industry.
