Ticket reseller StubHub's IPO 20 times oversubscribed, source says

Ticket reseller StubHub, which delayed its US listing in April amid market volatility, has drawn over 20 times as many orders for its planned initial public offering (IPO) as there are available shares, a source familiar with the matter said on Friday (Sep 12).

The outsized demand for the IPO, which is set to price shares on Tuesday, reflects pent-up investor appetite for tech-heavy consumer platforms.

StubHub did not immediately respond to Reuters’ request for comment.

Madrone Partners-backed StubHub had postponed its IPO roadshow earlier this year as US President Donald Trump’s tariffs roiled global markets and froze all dealmaking.

In a stark turn of events, US IPOs have had a triumphant week as companies ranging from crypto to consumer tapped the public markets amid record high equity markets and easing tariff worries.

Swedish buy-now, pay-later firm Klarna’s shares jumped in its long-awaited debut earlier this week, reinforcing bullish investor sentiments for fintechs.

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Separately, cafe chain Black Rock Coffee Bar’s shares rose above their issue price earlier in the day, as investors brushed off residual concerns over the consumer company’s health.

StubHub is targeting a valuation of up to US$9.2 billion in its US IPO, seeking to raise up to US$851 million by offering 34 million shares priced between US$22 and US$25 each.

The company was co-founded in 2000 by Jeff Fluhr and current chief executive Eric Baker, who had exited StubHub ahead of its US$310-million sale to e-commerce firm eBay in 2007.

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Baker in 2006 launched viagogo, a rival ticket reseller in Europe, which in 2020 bought StubHub from eBay for US$4.05 billion.

JPMorgan and Goldman Sachs are the lead underwriters of the offering. REUTERS