The StubHub logo is seen at its headquarters in San Francisco.Andrej Sokolow | Picture Alliance | Getty ImagesOnline ticket platform StubHub is pricing its IPO at $23.50, CNBC's Leslie Picker confirmed on Tuesday.The pricing comes at the midpoint of the expected range that the company gave last week.
At $23.50, the pricing gives StubHub a valuation of $8.6 billion. StubHub confirmed the IPO pricing in a release late Tuesday.
The company said its s are expected to begin trading on the New York Stock Exchange on Wednesday under the symbol "STUB."The San Francisco-based company was co-founded by Eric Baker in 2000, and was acquired by eBay for $310 million seven years later.
Baker reacquired StubHub in 2020 for roughly $4 billion through his new company Viagogo, which operates a ticket marketplace in Europe.StubHub has been trying to go public for the past several years, but delayed its public debut twice.
The most recent stall came in April after President Donald Trump's "Liberation Day" tariffs roiled .The company filed an d spectus in August, effectively restarting the cess to go public.The IPO market has bounced back in recent months after an ext dry spell due to high inflation and rising interest rates.
Klarna made its debut on the NYSE last week after the online lender also delayed its IPO in April.
Tyler and Cameron Winklevoss' Gemini, stablecoin issuer Circle, Peter Thiel-backed cryptocurrency exchange Bullish and design software company Figma have all soared in their respective debuts.At the top of the pricing range StubHub offered last week, the company would have been valued at $9.2 billion.
StubHub had sought a $16.5 billion valuation before it began the IPO cess, CNBC previously reported.
StubHub said in its d spectus that first-quarter revenue increased 10% from a year earlier to $397.6 million.
Operating income came in at $26.8 million for the period.The company's net loss widened to $35.9 million from $29.7 million a year ago.WATCH: Some recent IPOs have been 'frothy'watch now4:5504:55Some of the recent IPO offerings have been 'frothy', says Tasty's Tom SosnoffSquawk Box