STUBHUB FALLS A BIT IN FIRST-DAY TRADING

Summary from the TLDR Founders newsletter

StubHub's shares fell 6% on its NYSE debut, closing at $22 after pricing at $23.50. The IPO, which raised $800 million at an $8.5 billion valuation, marks a long-anticipated public entry for the ticket marketplace, now owned by Viagogo and backed by key VCs holding major stakes. Despite achieving $828 million in revenue in H1 2023, StubHub reported a $76 million net loss, highlighting challenges amid its recent market debut.