The StubHub logo is available at its headquarters in San Francisco.
Andrej Sokolow | Picture Alliance | Getty Images
Online ticketing platform StubHub sets its IPO at $23.50, and the company's estimate is $8.6 billion in stock sales.
The midpoint of the expected range the company paid last week was raising $800 million later on Tuesday. Stubhub said its shares are expected to start trading on the New York Stock Exchange on Wednesday.
The San Francisco-based company was co-founded by Eric Baker in 2000 and was acquired by eBay for $310 million seven years later. Baker regained Stubhub in 2020 through his new company Viagogo, which runs the ticketing market in Europe.
Stubhub has been trying to publicly publicly over the past few years, but has delayed its public debut twice. The most recent stall comes in April after President Donald Trump’s “Liberation Day” tariff loss markets.
The company filed its latest prospectus in August, effectively restarting the public prospectus.
The IPO market has rebounded in recent months due to high inflation rates and rising interest rates. Krana Online lenders also postponed their April IPO last week, making their debut on the New York Stock Exchange last week. Taylor and Cameron Winkelworth' GeminiStablecoin issuer Circlea cryptocurrency exchange supported by Peter Thiel Bullishand design software companies Fig Their respective debuts soared.
At the top of the pricing range StubHub, which was offered last week, the company is worth $9.2 billion. CNBC previously reported that StubHub had sought a $16.5 billion valuation before starting the IPO process.
Stubhub said in its latest prospectus that revenue in the first quarter rose 10% from the same period last year to $397.6 million. Operating income during the period was US$26.8 million.
The company's net loss increased from $29.7 million a year ago to $35.9 million.
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