Stubhub ticket reseller was released on Wednesday. Although Stubhub’s shares closed 6% below the IPO price of $ 23.50, rating the company at over $ 7 billion, the debut itself in the public debut itself is proof of the insistence of the co -founder.
Stubhub Eric Baker’s chief executive founded the company with Jeff Fluhr in 2000 and attended Stanford School of Business. This was shortly after the explosion of Bubble Dotcom and Nasdaq, but the couple did not give up.
“Stupid competitors left and many of us took a real opportunity to build a constant business after passing through this dip” said In a Podcast of Bessemer Venture Partners in 2022.
A few years later, the business was growing, but Baker and Fluhr did not see the eye-eye in the direction of the company. In 2004, Baker was pushed by the company.
A year later, Baker moved to London, where he founded Viagogo, a stubHub for Europe. Viagogo’s cultivation had many challenges, but he dreamed of merging it with stubHub, according to Podcast.
In 2019, when eBay decided to retire from Stubhub – it had bought the ticket seller in 2007 – Baker took the opportunity. It secured support from investors such as Westcap, Madrone Capital Partners and Bessemer Venture Partners, buying the company for $ 4.05 billion.
Immediately after the merger is completed, the Covid-19 pandemic blow. With the live events, the company was canceled in force, the company’s revenue collapsed.
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The company that woke up and when live events recovered, revenue from the ticket reseller increased significantly from extremely popular events such as Taylor Swift’s Eras tour, Beyoncé’s Renaissance tour and Super Bowl.
In the first quarter of 2025, Stubhub’s revenue increased by 10% to $ 397.6 million in the first quarter compared to the same period last year.
“Reflecting on our journey, I’m surprised about how far we have come,” he told the letter of the S-1 founder when he was, After years of planning To go publicly, to the cliff of a day of start. “We have successfully passed numerous challenges, including the unprecedented impact of Covid-19, which brought it stopped living the events in 2020.”
In accordance with S1Baker holds 4.7%of the company, meanwhile Stubhub’s investors, Madrone, Westcap and Bessemer Venture Partners hold 24.5%, 12.3%and 8.8%respectively.
