Secondary ticketing marketplace platform StubHub has revealed how much it hopes to earn from its initial public offering.
In a filing with the Securities and Exchange Commission (SEC) on Monday (September 8), StubHub Holdings revealed it plans to sell just over 34 million Class A shares, with an option to sell an additional 5.1 million shares. It expects the shares to fetch USD $22-$25 each.
That indicates StubHub is expecting to raise between $748 million and $975 million from the IPO. Based on the number of outstanding shares listed in the SEC filing, that price target would give StubHub a valuation between $8.1 billion and $9.3 billion.
The new data comes as the company announced the launch of its IPO roadshow, i.e. the phase of the IPO in which company execs will be promoting StubHub as an investment.
Company Founder and CEO Eric Baker will remain firmly in control of StubHub. His holdings of Class B shares – which come with 100 votes each, as opposed to Class A shares with one vote each – will leave him with 87.8% of voting power on the board, StubHub said in its filing.
StubHub filed earlier this year to be listed on the New York Stock Exchange under the ticker symbol “STUB.”
The company had been aiming for an IPO since at least 2022, and its latest SEC filing suggests it may have scaled back its IPO ambitions somewhat. A news report last year said the company was aiming for a valuation of $16.5 billion.
The IPO details come in the wake of weakening earnings numbers from StubHub, which also operates the viagogo platform outside North America.
For the first half of 2025, StubHub’s net loss more than doubled to $111.8 million, or $1.84 per share, despite a 3% YoY increase in revenue, to $827.9 million.
That comes despite a booming live events industry, with rival ticket sellers like Live Nation and DEAG reporting large jumps in revenue.
However, StubHub is grappling with ballooning costs, which widened to $776 million in H1 2025, from $750.4 million a year earlier.
JPMorgan and Goldman Sachs have been named as the joint book-running managers for the IPO, with additional joint book-running by BofA Securities, Evercore ISI, BMO Capital Markets, Mizuho, TD Cowen, Truist Securities and Wolfe | Nomura Alliance. Citizens Capital Markets, Oppenheimer & Co., Wedbush Securities and PNC Capital Markets are acting as co-managers for the proposed offering.
Through its StubHub brand in North America and viagogo in the rest of the world, StubHub operates ticket resale markets in over 200 countries and territories. It reported more than 40 million ticket sales from more than 1 million sellers in 2024.Music Business Worldwide
