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Encyclopedia > Stubhub
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StubHub is a service which acts as an online marketplace for buyers and sellers of tickets for sports, concerts, theater and other live entertainment events at fair market value, even for events that happen to be sold out. The company was founded in 2000 by Eric Baker and Jeff Fluhr, former Stanford Business School students and investment bankers and is located in San Francisco, CA.[1] Founder Eric Baker left StubHub in 2004 following a falling out with the company, and has started a new company viagogo.[2] StubHub was acquired by eBay in January 2007.[3] Image File history File links Unbalanced_scales. ... Image File history File links Broom_icon. ... Buy may refer to: Trade, voluntary exchange of goods, services, or both Buy (town), a town in Kostroma Oblast, Russia Category: ... Sell can mean: A verb relating to Sales Sell (professional wrestling) In Investing to give up control of an asset in exchange for a valuable consideration. ... Ticket (unseparated) of the Kurkino in Berchtesgaden CeBIT Home 1998 student day ticket with barcode A Parisians transport ticket A ticket to the 2003 Rugby World Cup sporting event. ... For other usages see Theatre (disambiguation) Theater (American English) or Theatre (British English and widespread usage among theatre professionals in the US) is that branch of the performing arts concerned with acting out stories in front of an audience using combinations of speech, gesture, music, dance, sound and spectacle &#8212... Fair Market Value is a term in both law and accounting to describe an appraisal based on an estimate of what a buyer would pay a seller for any piece of property. ... Mastertronic was originally a publisher and distributor of low-cost (budget) computer game software founded in 1983. ... Year 2000 (MM) was a leap year starting on Saturday (link will display full 2000 Gregorian calendar). ... Stanford Graduate School of Business, also known as Stanford Business School or Stanford GSB, is one of the top business schools in the world, and part of Stanford University. ... An investment banker works for an investment bank. ... This page is a candidate for speedy deletion. ... viagogo is an online ticket exchange aimed at the European market. ... eBay headquarters in San Jose eBay North First Street satellite office campus (home to PayPal) eBay Inc. ...


Founder Eric Baker said, "I'm probably the one person from business school who decided to take his MBA and become a ticket scalper."[4] Sellers post available tickets at any price they choose. Unlike other online ticket resellers, such as Craigslist (free) and eBay (up front price per listing), Stubhub takes a 25% commisson after the sale occurs (10% from the buyer, 15% from the seller). Sellers range from season ticket holders who want to unload tickets that would otherwise go unused to professional ticket brokers looking to make a profit. Ticket resale is reselling tickets to popular events. ... Craigslist is a centralized network of online urban communities, featuring free classified advertisements (with jobs, internships, housing, personals, for sale/barter/wanted, services, community, gigs, resume, and pets categories) and forums sorted by various topics. ...

Contents

Operations

Using the StubHub website, a buyer may select from available tickets to an event. Stubhub charges a service fee of 10% of the purchase price of the tickets. A shipping and handling charge is then imposed and tickets are either shipped via FedEx Express or picked up the day of the event. FedEx Express is the worlds largest cargo airline based in Memphis, Tennessee, USA. It is a subsidiary of the FedEx Corporation and delivers packages and freight to 220 countries each day. ...


Suppose there’s a ticket on sale for $100. The buyer will pay $110 to purchase the ticket, factoring in a 10 percent commission to Stubhub, and a shipping and handling fee either for overnight delivery or pickup at a Stubhub office. The seller receives $85, thanks to a 15 percent commission on the other end.[5][6]


Sports Partnerships

StubHub has formal relationships with several professional teams and college sports programs.

  • NFL: Chicago Bears, Indianapolis Colts, Cincinnati Bengals, Houston Texans, San Diego Chargers, Atlanta Falcons, Washington Redskins.
  • NBA: Washington Wizards, Charlotte Bobcats, Portland Trail Blazers, New Jersey Nets.
  • NHL: Washington Capitals, Phoenix Coyotes.
  • NCAA: USC, Cal, Alabama, Georgetown, Stanford, Oregon State, Air Force, Rutgers, West Virginia, Kansas State, Mississippi State, Texas A&M, Southern Miss, San Jose State, Purdue.

Starting with the 2008 season, Stubhub will become the official online provider of secondary tickets for Major League Baseball.[7]


Controversies

New York Yankees Season Ticket holders lose seats

"More than 100 season-tickets holders suspected of reselling their regular-season seats on stubhub have gotten letters denying them the right to buy playoff tickets and barring them from buying season tickets for next year.[8] [9]


New England Patriots sue StubHub

In 2006, the New England Patriots sued StubHub to bar it from reselling the team's tickets. The team reportedly filed the suit after fans showed up at games with phony or voided tickets bought over StubHub. While some were counterfeits, others were voided tickets sold by fans after they had their season-ticket privileges revoked.[10][11] [12] That problem, the Patriots argue, is worsened by a guarantee from StubHub that if tickets turn out to be fraudulent, the website will find alternate accommodations for the buyer. "Our experience is that as the listings on StubHub have increased, so also have the number of people who show up at the stadium with invalid tickets."[13]


StubHub Countersues the Patriots

On July 6 2007, a Suffolk Superior Court judge allowed Stubhub to proceed with its lawsuit against the New England Patriots.[14] Stubhub is accusing the Patriots of attempted monopolization, conspiracy to restrain trade and unfair trade practices.


Illegal Scalping

In 38 states, reselling event tickets is legal, so long as the sale does not take place at the event site. The other 12 states have varying degrees of regulation, including registration requirements and maximum markups.[4] Stubhub, Ticketmaster, eBay, and others have begun to lobby state legislatures to repeal or modify the stricter anti-scalping laws. In Florida, Stubhub made over $6,500 in campaign donations to members of the state legislature in support of a 2006 bill to amend Florida's 61-year old anti-scalping laws. Many consumers, as well as lobbyists for the leisure and entertainment industries were opposed to the bill, and claimed it will drive up prices for consumers while hurting their share of the ticket market.[15][16] Ticketmaster is based in West Hollywood, California, USA, but has operations in many countries around the world. ... eBay headquarters in San Jose eBay North First Street satellite office campus (home to PayPal) eBay Inc. ... Official language(s) English Capital Tallahassee Largest city Jacksonville Largest metro area Miami metropolitan area Area  Ranked 22nd  - Total 65,795[1] sq mi (170,304[1] km²)  - Width 361 miles (582 km)  - Length 447 miles (721 km)  - % water 17. ...


References

  1. ^ "Frugality is this startup's ticket", Businessweek online, February 15, 2005. Retrieved on 2006-06-08. 
  2. ^ "Online ticket scalping comes to Europe", Marketwatch online, August 17, 2006. Retrieved on 2006-08-17. 
  3. ^ eBay (January 10, 2007). eBay To Acquire Online Tickets Marketplace StubHub. Press release. Retrieved on 03-02-2007.
  4. ^ a b Josh Fried. "Admit Two. Stubhub's founders want to take the worry out of getting close seats", Stanford Magazine, November/December, 2004. Retrieved on 2006-06-08. 
  5. ^ "Index Ventures Backs StubHub Clone", www.thealarmclock.com, August 18, 2006. 
  6. ^ "Baseball-Playoff Seats Get Harder to Score", www.wsj.com, September 27, 2006. 
  7. ^ "MLB partners with StubHub", www.mlb.com, August 2, 2007. 
  8. ^ "YANKEES SHUT OUT SEASON-TIX SCALPERS", www.nypost.com, September 23, 2006. 
  9. ^ "That Season Ticket on eBay? It Could Cost Seller the Seat", www.nytimes.com, September 24, 2006. 
  10. ^ "Tickets to big trouble: Pats sue StubHub over Internet", www.bostonherald.com, November 23, 2006. 
  11. ^ "Patriots Sue Ticket Reseller in Effort to Fight Scalping", www.myfoxboston.com, November 23, 2006. 
  12. ^ "Patriots play tough", www.bostonglobe.com, December 3, 2006. 
  13. ^ "Patriots sue ticket reseller in effort to fight scalping", www.bostonglobe.com, November 23, 2006. 
  14. ^ "Ticket-sales suit against Patriots gets green light", www.bostonglobe.com, July 7, 2007. 
  15. ^ Sarah Talalay and Sean Piccoli. "Bill lifts restrictions on ticket resale prices", Florida Sun-Sentinel, May 2, 2006. 
  16. ^ Editorial. "The scalpers in Tallahassee", The Ledger (Lakeland, Florida), June 6, 2006. Retrieved on 2006-06-08. 

Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 159th day of the year (160th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 229th day of the year (230th in leap years) in the Gregorian calendar. ... is the 10th day of the year in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st Century. ... For information on Wikipedia press releases, see Wikipedia:Press releases. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 159th day of the year (160th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 159th day of the year (160th in leap years) in the Gregorian calendar. ...

See also

Ticket resale is the act of reselling tickets for admission to events. ...

External links

  • Official site

 

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