Some of the dreamers from the Internet boom are still making good on the promise of that era. Jeff Fluhr co-founded online ticket marketplace, StubHub, in March 2000 -- at the height of the market -- as part of a Stanford Business School business plan competition. Almost seven years later, he's agreed to sell it to eBay for $310 million.
Aside from the founders, the deal is a win for Pequot Ventures, which invested between $10 and $25 million into StubHub at the end of 2005. Allen & Co. provided StubHub with ongoing counsel and also held an equity stake in the startup, which recorded about $100 million in revenue last year.
I've successfully used StubHub to buy and sell 49ers, Giants and concert tickets. It works very well. So well, in fact, that only a company with an acquisition integration track record like that of eBay's would foment concern that StubHub's elegant service could be corrupted. Hopefully, eBay won't tinker too much with a great company.
For more on eBay's acquisition of StubHub, see:
TechCrunch
San Francisco Chronicle
Scott Wingo
Tags: ebay, stubhub, pequot, vc, venture capital
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