Friday, January 12, 2007
WHO: Jeff Fluhr (GSB 01 Social), Eric Baker (GSB01)
This is a posting to congratulate a couple of GSBers who built a great company and recently sold it to one of the big internet players. The news came out on TechCrunch that StubHub was being acquired by Ebay for $310M last week after a few earlier rumors. The TechCrunch article is a little misleading because they quote gross revenue for StubHub which I think includes the ticket prices instead of just the StubHub service revenue (my estimate on that is about $100M).
I dug out the Stanford GSB case on StubHub and found this great quote:
"Sure, you can call us Ivy League scalpers. But this is a very attractive business, and the more that teams embrace it, the more legitimate online trading becomes."
- Eric Baker, StubHub founder and President