Word: stubhub
(lookup in dictionary)
(lookup stats)
Dates: during 2004-2004
Sort By: most recent first
(reverse)
Teams benefit because StubHub gives them a cut of its 25% commission. On average, the eight professional teams with StubHub deals get about 10% of a ticket's resale price. More important, the teams fill some empty seats and lock up the ancillary revenues (from, say, parking, a set of ThunderStix, a couple of beers). StubHub benefits because the team markets the website to its most loyal customers, validating the operation...
...StubHub's start was a classic entrepreneurial moment. One night a few years back, Eric Baker, a Harvard grad, was stumped in trying to score tickets to take his girlfriend to The Lion King. Frustration led to innovation after Baker figured out the math of the secondary market and turned it into a business. StubHub moved an estimated $60 million worth of tickets in 2003 and also turned its first profit. "StubHub's concept centralizes a big, fragmented market," says David Kirsch, a University of Maryland business professor who studies both the suckers and the survivors of the dotcom...
...StubHub's success has attracted a hungry giant--Ticketmaster, a company that dominates the primary ticket business and is owned by Barry Diller's InterActiveCorp. After StubHub inked deals with the Arizona Diamondbacks, the Seattle Mariners and the L.A. Clippers, several Ticketmaster clients asked Diller's company to launch a secondary platform for their season-ticket holders. The game...
While the big gun has signed up more teams than StubHub has, the upstart sells more tickets because anyone, not just Ticketmaster clients' season-ticket holders, can use the site. But don't expect StubHub to return serve and make a play in the primary market. "We've got a huge stand-alone opportunity," says Baker, who runs the company with colleague Jeff Fluhr, a Stanford Business School classmate. His immediate goals include signing more teams and finalizing a Web advertising deal with a major online distributor. "Sure, you can call us Ivy League scalpers," says Baker. "But this...
Skip The Scalper StubHub is changing the secondary market for sports tickets...