IPO and Financial Strategy - StubHub's IPO priced at $2350 per share, valuing the company at approximately $85 billion [1] - The IPO aims to deleverage the balance sheet following the buyback from eBay [2] - A stronger balance sheet will allow StubHub to allocate resources towards business development rather than debt repayment, enhancing partnerships, consumer awareness, and talent acquisition [3] Pricing and Customer Experience - StubHub has been advocating for all-in pricing to improve the customer experience [5][6] - All-in pricing may initially cause a temporary 10% drop in revenue, but is expected to normalize as the market adjusts [7] - Uniform all-in pricing creates a level playing field for all competitors [6][10] Innovation and Market Expansion - StubHub is exploring the use of AI to enhance customer experience by leveraging 20 years of data to anticipate customer preferences and personalize recommendations [12][13][15] - AI implementation is expected to improve customer experience, increase revenue, and cut costs [15] - StubHub aims to be the primary destination for all live event tickets, including primary and secondary markets [17][18] Competition and Global Reach - Live Nation/Ticketmaster has been a competitor in the secondary market since 2002 [24][25] - StubHub emphasizes providing a great customer experience through an open network and superior product technology [25][26] - StubHub's global reach, stemming from its heritage, allows it to connect people worldwide by offering tickets in their language and currency [19]

All-in Pricing Impact - All-in pricing is considered a better customer experience in the long run [1] - In the short term, all-in pricing may cause some customers to drop out and not convert [1] - A uniform rule for all-in pricing ensures all competitors must adopt it [1] Revenue Impact - The company publicly lobbied for years to get to all-in pricing [1] - In the first 12 months after implementing all-in pricing, a drop off of about 10% in revenue is observed [2] - After the initial 12 months, revenue is expected to return to normal growth [2] - The initial drop is a one-time hit to conversion, resetting the market [2]