StubHub IPO

StubHub (STUB) debuted on the NYSE, raising $800M with an IPO priced at $23.50, but closed down over 5%. Delayed twice due to market volatility, the IPO follows successful tech debuts like Klarna and Gemini. eBay previously owned StubHub before selling it back to its co-founder via Viagogo. While revenue increased 10% YoY to $397.6M in Q1, net losses widened. StubHub, facing competition from Vivid Seats and Ticketmaster, is also under FTC scrutiny regarding “junk fees” and bot prevention. Madrone Partners was the largest pre-IPO shareholder.