Eric Baker’s long, winding road to taking StubHub public

Company Overview - StubHub went public with an IPO price of $23.50, closing 6% below that price, which values the company at over $7 billion, highlighting the perseverance of its co-founder Eric Baker [1] - The company was co-founded in 2000 by Eric Baker and Jeff Fluhr while they were students at Stanford, shortly after the dotcom bubble burst [1] Historical Context - Baker noted that the exit of less competent competitors allowed for the opportunity to build a lasting business after the initial downturn [2] - In 2004, Baker was pushed out of the company due to differences in vision with Fluhr [2] Strategic Moves - After leaving StubHub, Baker founded Viagogo in Europe, with aspirations to merge it with StubHub [3] - In 2019, eBay spun off StubHub, which Baker seized as an opportunity to purchase the company for $4.05 billion with backing from various investors [3] Financial Performance - StubHub faced significant revenue challenges during the COVID-19 pandemic due to the cancellation of live events [4] - Following the pandemic, StubHub's revenue rebounded significantly, driven by high-demand events, with a reported 10% revenue growth to $397.6 million in Q1 2025 compared to the same period last year [4] Ownership Structure - In the S-1 filing, it was disclosed that Baker owns 4.7% of StubHub, while investors Madrone Partners, WestCap, and Bessemer Venture Partners hold 24.5%, 12.3%, and 8.8% respectively [5]