StubHub Pursues IPO, Targets $9bn Valuation
This despite its disappointing H1 2025 financials
Secondary ticketing platform StubHub is moving ahead with its initial public offering, despite posting weak H1 2025 results.
The numbers:
As per its filing with the Securities and Exchange Commission (SEC), StubHub Holdings plans to sell just over 34 million Class A shares. Underwriters, including J.P. Morgan and Goldman Sachs, will have a 30-day option to purchase up to an additional 5.1 million shares at the initial public offering price, less underwriting discounts and commissions.
StubHub expects the shares to be valued at USD $22-25 each.
It is expecting to raise between $748 million and $975 million from the IPO.
In light of the number of outstanding shares listed in the SEC filing, that would give StubHub a valuation between $8.1 billion and $9.3 billion.
As per Music Business Worldwide, Founder and CEO Eric Baker will remain in control of StubHub – his holdings of Class B shares (which come with 100 votes each; Class A shares have one vote each) will leave him with 87.8% of voting power on the board.
Long road:
StubHub has been aiming for an IPO since at least 2022.
As recently as last year reports surfaced that the company was aiming for a valuation of $16.5 billion.
Shares are expected to list as STUB on the New York Stock Exchange.
H1 Financials:
As per Music Business Worldwide, StubHub’s H1 2025 financials reported only 3% YoY revenue growth to $828 million, while its net loss more than doubled to $111.8 million.
Secondary ticketing platform StubHub is moving ahead with its initial public offering, despite posting weak H1 2025 results.
The numbers:
As per its filing with the Securities and Exchange Commission (SEC), StubHub Holdings plans to sell just over 34 million Class A shares. Underwriters, including J.P. Morgan and Goldman Sachs, will have a 30-day option to purchase up to an additional 5.1 million shares at the initial public offering price, less underwriting discounts and commissions.
StubHub expects the shares to be valued at USD $22-25 each.
It is expecting to raise between $748 million and $975 million from the IPO.
In light of the number of outstanding shares listed in the SEC filing, that would give StubHub a valuation between $8.1 billion and $9.3 billion.
As per Music Business Worldwide, Founder and CEO Eric Baker will remain in control of StubHub – his holdings of Class B shares (which come with 100 votes each; Class A shares have one vote each) will leave him with 87.8% of voting power on the board.
Long road:
StubHub has been aiming for an IPO since at least 2022.
As recently as last year reports surfaced that the company was aiming for a valuation of $16.5 billion.
Shares are expected to list as STUB on the New York Stock Exchange.
H1 Financials:
As per Music Business Worldwide, StubHub’s H1 2025 financials reported only 3% YoY revenue growth to $828 million, while its net loss more than doubled to $111.8 million.
Secondary ticketing platform StubHub is moving ahead with its initial public offering, despite posting weak H1 2025 results.
The numbers:
As per its filing with the Securities and Exchange Commission (SEC), StubHub Holdings plans to sell just over 34 million Class A shares. Underwriters, including J.P. Morgan and Goldman Sachs, will have a 30-day option to purchase up to an additional 5.1 million shares at the initial public offering price, less underwriting discounts and commissions.
StubHub expects the shares to be valued at USD $22-25 each.
It is expecting to raise between $748 million and $975 million from the IPO.
In light of the number of outstanding shares listed in the SEC filing, that would give StubHub a valuation between $8.1 billion and $9.3 billion.
As per Music Business Worldwide, Founder and CEO Eric Baker will remain in control of StubHub – his holdings of Class B shares (which come with 100 votes each; Class A shares have one vote each) will leave him with 87.8% of voting power on the board.
Long road:
StubHub has been aiming for an IPO since at least 2022.
As recently as last year reports surfaced that the company was aiming for a valuation of $16.5 billion.
Shares are expected to list as STUB on the New York Stock Exchange.
H1 Financials:
As per Music Business Worldwide, StubHub’s H1 2025 financials reported only 3% YoY revenue growth to $828 million, while its net loss more than doubled to $111.8 million.
StubHub
Eric Baker
J.P. Morgan
Goldman Sachs
New York Stock Exchange
Securities and Exchange Commission
Music Business Worldwide
Secondary Ticketing Issues
Profitability Lagging Revenue Growth
Ticketing Platform Financial Struggles
Rising Scrutiny Of Ticketing Practices
Founder Control Via Dual-Class Shares
Initial Public Offering
Financial Results
United States
New York, US
👋 Disclosures & Transparency Block
- This story was written with information sourced from Music Business Worldwide and Digital Music News.
- We covered it because it’s news of a high-profile IPO.
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