Introduction to US Stock IPO: Secondary ticketing market StubHub launches IPO with a valuation expected to reach $9 billion.

The secondary ticketing platform StubHub Holdings, Inc. announced the launch of its IPO, planning to list on the New York Stock Exchange under the ticker symbol STUB. StubHub intends to issue 34,042,553 shares of Class A common stock at a valuation between $8.1 billion and $9.3 billion, with an expected price range of $22 to $25 per share. The underwriters have a 30-day option to purchase up to an additional 5,106,382 shares.

StubHub is headquartered in the United States and includes the StubHub platform in North America and the international brand viagogo. It currently serves over 200 countries and regions, supporting more than 30 languages and 45 currencies. Users on the platform can buy and sell tickets, covering transactions for sports, music, concerts, theater, comedy, and various cultural events. This is purely a market observation, not any investment advice.

What is a secondary ticketing platform?

Online Ticketing Reseller ( refers to a secondary ticket market ) where tickets originally sold by the organizer or official channels are resold to other consumers by ticket holders through a third-party platform. StubHub is not the original ticket organizer but provides intermediary services for both buyers and sellers, charging a service fee for transactions conducted through the platform.

Shareholder structure and control rights

StubHub CEO and co-founder Eric Baker holds approximately 5.2% of Class A common stock and owns all Class B super voting shares, totaling about 90% of the voting power. The main investors in Class A shares include Madrone Partners (approximately 27% equity), WestCap Management (approximately 11%), and Bessemer Venture Partners (approximately 9.6%).

IPO estimated valuation and financing scale

According to the per share price range of 22–25 USD, StubHub's market valuation is estimated to be between 8.1 billion and 9.3 billion USD ( Music Business Worldwide. If the underwriters choose to exercise all additional subscription options, the fundraising amount is expected to exceed 850 million USD.

IPO background

StubHub planned to push for an IPO in 2024, setting a valuation target of approximately $16.5 billion, but it was temporarily shelved due to market volatility at that time. The updated S-1 filing for 2025 has included the first-quarter financial report, with the IPO expected to launch in mid-September, and shares may begin trading during the week of September 15. Currently, the lead underwriters are still JPMorgan Chase and Goldman Sachs, working alongside several other banks.

Main competitors and market environment

StubHub is facing challenges from multiple competitors, including Ticketmaster, which is owned by Live Nation (including the Fan-to-Fan group resale feature), SeatGeek, and Vivid Seats. SeatGeek even combines primary and secondary ticket sources to form a composite competitive advantage.

This article introduces the US stock market IPO: the secondary ticketing market StubHub is launching its public offering with a valuation expected to reach nine billion dollars, first appearing in Chain News ABMedia.