StubHub is a global ticketing platform founded in 2000 in San Francisco, pioneering online ticket resale. Today, the service connects millions of buyers and sellers across more than 120 countries, processing over 120 million transactions annually and offering access to hundreds of thousands of events — from concerts and sports games to theaters and festivals.

The company aims to raise $799.9 million at a valuation of $8.64 billion, making IPO StubHub one of the most notable listings of 2025 in the global online marketplace sector.

Ecosystem and business model — StubHub generates revenue from commissions on each transaction, leveraging high demand and limited ticket supply as a driver of sustainable cash flow. Despite a net loss of $35.4 million in 2024, the company delivers positive operating cash flow thanks to its scalable platform and strong margins.

Major deals and brand strength — In 2007, StubHub was acquired by eBay for $310 million, and in 2020 it was sold to Viagogo and a group of investors for $4.05 billion. Today, StubHub stands as the largest and most recognizable brand in the market, outpacing competitors such as SeatGeek, Ticketmaster, and AXS.

Global trend and outlook — The live entertainment market is experiencing a true post-pandemic renaissance, showing double-digit growth rates. StubHub holds a leading position and enjoys sustained demand, making its IPO particularly attractive to investors.

IPO StubHub is considered one of the most anticipated and largest listings of the fall season, given the company’s scale and strong position in the online ticketing market.

Deadline for applications and account funding — Tuesday, 18:00 (UAE).

Global scale: over 120 million transactions in 2024, with millions of buyers and sellers.

Ticket scarcity works in its favor: demand for concerts and sporting events consistently exceeds supply, strengthening the secondary market.

Strong economics: despite a net loss of $35.4M last year, StubHub generates positive cash flow thanks to commissions and high margins.

Brand #1: competitors like SeatGeek, Ticketmaster, and AXS are growing, but StubHub remains the largest and most recognizable player.

Live-entertainment trend: the live events market is experiencing a “renaissance” after the pandemic, showing double-digit growth rates.

StubHub was founded in 2000 in San Francisco and became one of the first online platforms for ticket resale. The startup emerged at a time when the live entertainment market was growing rapidly but remained fragmented and opaque. StubHub offered a technological solution that allowed fans and sellers to interact directly, creating a new segment in the live-entertainment industry.

The company quickly stood out for its scale and convenience: within just a few years it became the largest secondary ticketing platform in the U.S. In 2007, StubHub was acquired by eBay for $310 million, and in 2020 it was resold to a group of investors led by Viagogo for $4.05 billion. These deals cemented StubHub’s reputation as a market leader and underscored the value of its brand.

The name StubHub (“Ticket Exchange”) reflects the core idea: providing access to events through a transparent, technology-driven platform. Today, the company connects millions of users across more than 120 countries and processes over 120 million transactions annually for concerts, sporting events, theaters, and festivals.

StubHub earns revenue from commissions on each transaction and builds sustainable cash flow on the back of strong demand and chronic ticket shortages. Despite a net loss of $35.4 million in 2024, the company generates positive operating cash flow thanks to its scalable platform and strong margins.

Today, StubHub is recognized as the #1 brand in the global ticket resale market, outperforming competitors such as SeatGeek, Ticketmaster, and AXS. With an IPO targeting a valuation of ~$8.6 billion and raising nearly $800 million, the deal will be a key indicator of investor interest in the live-entertainment sector. For investors, it represents an opportunity to participate in a business at the intersection of technology, e-commerce, and the global entertainment industry — a market experiencing a post-pandemic renaissance with double-digit growth rates.

— What is an IPO?
An IPO (Initial Public Offering) is when a private company lists its shares on a stock exchange for the first time to raise capital from investors. From that point onward, the company’s shares can be freely bought and sold on the open market.

— Where are IPOs conducted?
IPOs take place on the world’s largest stock exchanges. In the U.S., the primary venues are the NYSE (New York Stock Exchange) and NASDAQ. Once a company goes public, its shares are freely traded on these exchanges, and the market price is established after the offering.

— What is allocation?
Allocation (from “allocation” — distribution) refers to the process of distributing resources, assets, or capital for maximum efficiency. In investing, allocation usually means distributing the available amount of shares among investors in an IPO or private placement.

— How much allocation does an investor receive?
The allocation size depends on the specific deal and typically ranges from 2% to 30% of the submitted order. Information about the actual allocation becomes available roughly one day before the offering, approximately six hours prior to the trade.

Example — Bullish IPO:
An investor placed an order for $10,000. The allocation was 29.6%, meaning $2,960 was invested in the IPO. The remaining $7,040, including the purchase commission, was refunded to the balance and became available for withdrawal.

— Why do companies go public?
To raise growth capital, increase brand visibility, and provide early investors and employees with an opportunity to sell part of their shares.

— How is participating in an IPO different from buying shares on the exchange?
When you participate in an IPO, you buy shares before they start trading publicly. This provides an opportunity to purchase at the fixed offering price but also carries the risk that the price may drop once trading begins.

— What do I get by participating in an IPO through Regolith?
You become an investor in the company at the IPO stage via our U.S. partner infrastructure. After the transaction is completed and the lock-up period expires, profits from the share sale are distributed among investors proportionally to their stake in the deal.

— What is a lock-up period and how long does it last?
A lock-up period is a timeframe set by the issuer and underwriters during which shares cannot be sold. For IPOs offered through our platform, this period is 93 days. Once it ends, the shares are sold on the exchange and proceeds are distributed among investors.

— How is participating through the platform different from buying shares independently?
To buy independently, you would need access to a U.S. broker, a significant investment amount, and approval from underwriters. The platform pools capital from investors, providing access to IPOs that are otherwise unavailable to most individuals.

— Through whom is IPO participation carried out?
We operate through a U.S.-based structure that works with a licensed broker in the U.S. Our partner selects promising IPOs and participates in the offering under its own name.

— How is the deal structured legally?
An investor signs an agreement/offer to participate in the investment product. Regolith then transfers funds to its partner entity — Wealthy Labs Limited (the provider), which enters into a forward contract with the broker and executes all operational activities. The provider delivers the financial outcome to Regolith, which then distributes proceeds among investors.

— Is there a minimum investment amount?
Yes. Each IPO has a defined minimum entry threshold, shown on the offering page. On average, Regolith provides access starting from $500.

— Do I receive shares into my personal brokerage account?
No. Shares are purchased and held in the partner’s brokerage account. After the lock-up period, the broker sells the shares and transfers proceeds for distribution among investors.

— Can shares be transferred directly to my brokerage account?
No. Participation is structured via a forward contract with the partner’s brokerage infrastructure. The deal is executed on behalf of the partner, and settlements with investors are carried out through the platform.

— How can I sell my shares after the IPO?
Sales are processed automatically: once the lock-up expires, the partner broker sells the shares on the exchange, and proceeds are distributed proportionally among investors.

— What are the risks of investing in IPOs?
IPOs are high-risk investments. While they may offer high returns, they also carry significant volatility. Share prices on the first trading day — and after the lock-up — can fluctuate sharply. There is a risk that the market price will fall below the offering price. In addition, macroeconomic and sector-specific factors can affect outcomes.

— Can I know in advance how much I will earn?
IPO returns are not guaranteed. The final result depends on the share price at the time of sale after the lock-up, overall market conditions, and the company’s performance.

— How can I verify that Regolith participates in IPOs?
We publish all available deal information in the client dashboard. Additionally, we provide an agreement disclosing the infrastructure used for transactions. Broker and partner documents are not shared, as they contain confidential data protected by contractual obligations.