After weathering two previous delays, StubHub Holdings, Inc. successfully debuted on the New York Stock Exchange on September 17, 2025, achieving an impressive $8.6 billion valuation that signals renewed investor confidence in the live events industry. The ticketing platform’s shares, trading under the ticker symbol “STUB,” priced at $23.50 before opening at $25.35, generating immediate returns for early investors. The company offered over 34 million Class A common shares with an optional overallotment exceeding 5 million additional shares, raising approximately $800-$850 million in gross proceeds.
The IPO launch came at a strategically opportune moment, following Labor Day 2025 when market volatility had substantially decreased, with the VIX index stabilizing around 16 compared to previous spikes exceeding 50. This timing proved advantageous after StubHub had previously postponed its public offering twice—once due to tariff-related market uncertainties and earlier amid a broader growth stock downturn. Investor roadshows commenced in early September, capitalizing on recovery trends in post-pandemic live events. The company’s decision to go public coincides with a remarkable 38% year-over-year increase in global live events ticketing, demonstrating significant market momentum.
StubHub’s ownership structure features a notable dual-class share arrangement that grants founder and CEO Eric Baker extraordinary control. While holding just 5.2% of Class A shares, Baker maintains 100% ownership of nearly 5 million Class B shares, translating to 90% voting control—a governance structure that has raised some concerns among institutional investors. The company initially targeted a USD 16.5 billion valuation before market conditions prompted a more conservative approach.
Founder Eric Baker wields 90% voting control despite 5.2% economic stake, raising governance red flags for institutional investors.
Other stakeholders include prominent venture capital firms like Bessemer Venture Partners and celebrity investors including Steffi Graf and Andre Agassi. The company has demonstrated innovation in its promotional strategy, implementing social media advertising techniques similar to those used by successful music artists to build brand awareness and audience engagement. StubHub has also explored potential sync deals with artists, creating new revenue opportunities by licensing music for use in the company’s promotional content and platform experiences.
The IPO was led by a powerhouse syndicate including JPMorgan, Goldman Sachs, Bank of America Securities, and Evercore ISI, with retail access provided through platforms like Robinhood and Fidelity. StubHub emphasized its technological edge in IPO filings, particularly highlighting artificial intelligence applications for buyer-seller matching and customer targeting—innovations the company positions as vital competitive advantages in the evolving ticketing marketplace.
The successful NYSE debut culminates years of private market development and positions StubHub for its next growth chapter as a publicly traded entity.
