StubHub late Tuesday priced its initial public offering (IPO) at $23.50 per share, raising $800 million.
The offering price gives the online ticket platform a market valuation of $8.6 billion.
StubHub said its shares are expected to begin trading on the New York Stock Exchange (NYSE) today under the symbol 'STUB’.
In a recent SEC filing, StubHub stated that its first-quarter revenue rose 10% year over year to $397.6 million.
The company’s net loss for the period, though, widened to $35.9 million from $29.7 million a year earlier.
“Our business model has achieved scale with high growth and generated significant revenue, profit and cash flow,” the company stated in its prospectus.
StubHub has been trying to go public for the past several years, but delayed its IPO twice, CNBC reported.
StubHub operates a marketplace allowing fans to purchase tickets for live events, selling more than 40 million tickets from at least 200 countries in 2024.