User:Stephanie BINK/Eric Baker draft
American businessman
From Wikipedia, the free encyclopedia
Eric H. Baker (born May 1973) is an American businessman. He co-founded StubHub in 2000 before later creating Viagogo six years later. He is CEO of StubHub Holdings, Inc, which owns the two ticketing marketplaces.
May 1973 (age 52)
Eric Baker | |
|---|---|
| Born | Eric H. Baker May 1973 (age 52) Los Angeles, California, US |
| Education | |
| Occupation | Chief executive officer |
| Known for | |
Early life
Baker was born in May 1973.[1] He was born and grew up in Los Angeles.[2][3] Baker graduated from Harvard College in 1995 and received an MBA from the Stanford Graduate School of Business in 2001.[4]
Career
After graduating from Harvard, Baker worked for McKinsey & Company for two years, and then Bain Capital, a private equity firm in Boston.[4][3]
StubHub
A year after enrolling at Stanford, Baker co-founded StubHub in 2000 with fellow classmate Jeff Fluhr.The idea came when Baker saw a Broadway play and struggled to buy secondhand tickets. He remembered the need for a more efficient way to buy these tickets and developed the idea during a Stanford competition.[5][3] Baker and Fluhr withdrew from the competition after being chosen as finalists due to concerns that someone might take their idea.[3][2] The two began to network with potential investors in the music and sports industries. By March 2000, the company was incorporated and five months later, the duo had raised $600,000 in seed funding.[6] While Fluhr dropped out of Stanford to focus on StubHub full-time, Baker opted not to immediately join the company.[7] While he was completing his MBA, the first version of the website launched without him in October 2000.[8] He rejoined StubHub as its president in 2001.[9] However, Baker and Fluhr clashed on the direction of the company and Baker was fired from StubHub in 2004.[7] StubHub was sold to eBay in January 2007 for $310 million in cash.[10][11]
Viagogo
In 2006, Baker moved to London, where he planned his next venture. Baker did not sign a non-compete with StubHub so was able to launch a new ticketing marketplace, Viagogo, later that year. Viagogo initially focused on Europe and launched with inaugural partners Manchester United and Chelsea Football Club.[7] Baker has been its CEO since then.[9]
Baker owns Viagogo through his Delaware based company, originally named Pugnacious Endeavors.[2]
StubHub acquisition
Baker purchased StubHub from eBay in February 2020 through Pugnacious Endeavors,[12][13] which was later renamed to StubHub Holdings, Inc.[14] Baker serves as CEO of StubHub Holdings, Inc.[15][9] The acquisition was finalized after United Kingdom regulators approved the merger in September 2021.[16][13]
The purchase coincided with the COVID-19 Pandemic, which caused initial criticism of the deal. Forbes called the purchase ill-timed due to the pandemic causing cancelled tours, shows, and other live events.[7] However, following the pandemic, the industry grew back larger and Baker was credited as the cause for the company's replenished market share after the pandemic.[17]