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

StubHub went public on Wednesday with an IPO price of $23.50, closing 6% lower, valuing the company at over $7 billion. Co-founder Eric Baker's journey from struggles in the 2000s, a brief separation from the company, and the challenges posed by the COVID-19 pandemic showcase his perseverance, leading to significant revenue growth in early 2025, particularly due to major events.

Key points

  • StubHub's IPO priced at $23.50, closing 6% lower, valuing the company over $7 billion.
  • Co-founder Eric Baker started StubHub in 2000 with Jeff Fluhr during a downturn in tech.
  • After being pushed out in 2004, Baker founded Viagogo in Europe but aimed to merge it back with StubHub.
  • Baker bought StubHub for $4.05 billion after eBay spun it off in 2019.
  • StubHub faced revenue collapse during COVID-19 but rebounded with the return of live events.
  • In Q1 2025, StubHub reported $397.6 million in revenue, a 10% increase from last year.
  • Baker owns 4.7% of StubHub; major investors include Madrone Partners, WestCap, and Bessemer Venture Partners.

Why it matters

  • The initial struggles of tech startups in the early 2000s relate to current challenges faced by companies during economic downturns.
  • StubHub's story highlights the resilience of tech businesses amidst crises, akin to trends in 2025 where innovation meets adversity.
  • The resurgence of live events post-COVID reflects changes in consumer behavior and significant growth trends in the entertainment and tech sectors.

Eric Baker's journey with StubHub underscores the value of perseverance in entrepreneurship. Despite early setbacks and global pandemic challenges, the company has emerged stronger, showing resilience and adaptability in the evolving ticket resale market, and aligning with trends of growth in the tech and entertainment industries.