StubHub.com Shines In Ticket Resale Market
SAN FRANCISCO – As a first-year student at Stanford Graduate School of Business, Jeff Fluhr and a classmate entered a competition for the best new business plan. Their entry, called “NeedATicket.com,” envisioned a centralized Web site where people could auction off extra tickets for sporting events and concerts.
Utterly convinced the concept would work, Fluhr withdrew the entry and dropped out of school to launch the business. “It was definitely something that my mother was not thrilled about,” he recalls.
Six years later, the 31-year-old entrepreneur is chief executive of StubHub Inc., a leading Internet player in the burgeoning market of ticket reselling, which is doing $10 billion a year in volume by some estimates.
StubHub’s many competitors include the giant ticket seller Ticketmaster, a unit of IAC/InterActiveCorp, which not only sells tickets on the primary market but has begun reselling tickets for sports teams and even conducting auctions on behalf of rock groups such as Coldplay and Nine Inch Nails.
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