StubHub Stock Ends First Trading Session Below IPO Price

Key Takeaways

• StubHub shares ended their first trading session at $22.17, slightly below the $23.50 they sold for in the company's initial public offering.
• The online ticket sales platform raised about $800 million, which CEO Eric Baker said would be used to pay down debt.
• StubHub's deal was the latest to land in a busy IPO market, with recent listings including share sales by BNPL firm Klarna and Gemini, the crypto exchange owned by the Winklevoss twins.

StubHub shares finished their first trading session Wednesday below their IPO price.

The ticket trading platform announced Tuesday the sale of 34 million shares at $23.50 apiece in its initial public offering. Shares began trading today under the ticker "KLAR" at $25.35, climbing past $26 and falling as low as $22 throughout the day. They closed at $22.17.

StubHub has a market capitalization of about $8.3 billion based on closing prices. The company disclosed on its Form S-1 filing that it would have 373 million shares outstanding after the IPO, assuming an overallotment option is fully exercised.

StubHub sold 34 million shares and raised $800 million in the IPO. The money will go toward paying down debt, CEO Eric Baker said on CNBC. Baker, who co-founded StubHub, sold it to eBay and then bought it back six years ago.

“Now being a public company, it will even help us further with partnerships, consumer awareness and attracting talent,” Baker said. “So we’re excited.”

This was StubHub's third attempt at going public. In April, President Donald Trump’s “Liberation Day” tariffs roiled markets and led the company, along with others—like Klarna (KLAR), which went public earlier this month—to hold off. 

The IPO market has since picked up, with funds raised so far in 2025 already the most since 2021, a record year.

The track record of recent listings has been a bit less buoyant, however, than a few months ago, when shares of design software platform Figma (FIG) more than tripled on their debut.  Shares of buy now, pay later firm Klarna and the crypto exchange owned by the Winklevoss twins, Gemini (GEMI), rose a comparatively modest 15% on their market debuts this month. 

This article has been updated since it was first published to reflect the close of trading and add context and other information.

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