"StubHub CEO Eric Baker co-founded the company with Jeff Fluhr in 2000 while they were attending the Stanford Graduate School of Business. This was shortly after the dotcom bubble burst and NASDAQ crashed, but the pair didn't give up. "Stupid competitors went away and many of us got a real opportunity to build a lasting business after getting through that dip," he said on a Bessemer Venture Partners podcast in 2022."
"In 2019, when eBay decided to spin off StubHub - it had purchased the ticket seller in 2007 - Baker seized the opportunity. He secured backing from investors, including WestCap, Madrone Capital Partners, and Bessemer Venture Partners, purchasing the company for $4.05 billion. Just after the merger was completed, the COVID-19 pandemic hit. With live events cancelled and global quarantines in effect, the company's revenue collapsed."
"The company scraped by and when live events rebounded, the ticket reseller revenue grew significantly driven by hugely popular events like Taylor Swift's Eras Tour, Beyoncé's Renaissance Tour, and the Super Bowl. In the first quarter of 2025, StubHub's revenue grew by 10% to $397.6 million in the first quarter compared to the same period last year."
StubHub went public with shares closing 6% below the $23.50 IPO price, valuing the company at over $7 billion. Eric Baker co-founded StubHub with Jeff Fluhr in 2000 while at Stanford Graduate School of Business amid the dotcom crash. Baker was pushed out in 2004 and later founded Viagogo in London with an aim to merge. In 2019, Baker led a $4.05 billion purchase of StubHub from eBay with investor backing. The COVID-19 pandemic caused revenue to collapse, but live-event rebounds and major tours drove recovery. In Q1 2025, revenue grew 10% to $397.6 million.
Read at TechCrunch
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