RPM Capital Partners acquired 535,850 shares of StubHub Holdings, totaling $7.25 million. This new position represents 6.36% of their reported U.S. equity assets as of December 31. StubHub’s shares were priced at $15.19, down 35% from their IPO price of $23.50 in September.

StubHub Holdings is a technology company specializing in secondary ticketing for live events, generating revenue from transaction fees on ticket sales. The company connects buyers and sellers globally, serving individual consumers and professional brokers in over 200 countries.

RPM Capital Partners’ $7.25 million investment in StubHub signifies a strategic focus amid market volatility. StubHub’s latest quarter reported $2.4 billion in gross merchandise sales, with revenue reaching $468 million, up 8% year over year. The company’s adjusted EBITDA rose 21% despite IPO-related charges.

Read more at Yahoo Finance: StubHub Shares Sink 35%, but Does This $7.3 Million Bet Suggest a Turnaround Is Looming?