StubHub Slips In Debut As Long-Awaited IPO Closes At $22 Valuation

Benzinga

StubHub shares fell 6.4% in their NYSE debut on Wednesday after pricing its IPO in the middle of the expected range, according to CNBC. The stock opened at $25.35 before closing at $22, valuing the company at $8.1 billion. The offering followed multiple delays tied to market volatility and comes amid a wave of tech listings, including Klarna, Gemini, Bullish, Figma, and Circle. StubHub has surged from post-pandemic live event demand, boosted by blockbuster concerts and major sporting events. StubHub reported first-quarter revenue of $397.6 million, up 10% year-over-year, though net losses widened to $35.9 million. The company generates revenue by linking buyers with resellers, facilitating over 40 million ticket sales from about one million sellers last year.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02StubHub shares fell 6.4% of their NYSE debut on Wednesday after pricing its IPO in the middle of the expected range, that according to CNBC.

00:10Stock opened at $25.35, for closing at $22, valuing the company at $8.1 billion.

00:17Offering found multiple delays tied to market volatility, comes amid a wave of tech listings, including Klarna, Gemini, Bullish, Figma, and Circle.

00:24StubHub has searched for post-pandemic live event demand, boosted by blockbuster concerts and major sporting events.

00:30StubHub reported first quarter revenue of $397.6 million, up 10% year-over-year.

00:35Their net loss has widened to $35.9 million.

00:37The company generates revenue by linking buyers with resellers, facilitating over 40 million ticket sales from about 1 million sellers last year.

00:44For all things money, visit Benzinga.com.

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