Equity fund will shop for farm teams Eagles borrow $190M over new longer term Filing lists 12 athletes as creditors Vikings pick banks for stadium financing Globosport ready for spotlight NBA debt terms reflect confidence Kings refinance $15M as part of sale 49ers able to refinance early Bibb forms sports, lifestyle venture capital fund Marlins look to refinance
SBJ/March 12 - 18, 2007/Forty Under 40
Published March 12, 2007
StubHub co-founder and former chief executive, is now happily unemployed.
But beyond the payday, Fluhr is embracing becoming Mr. Mom to his newborn son, who was due at press time.
"I don't know what I'll be doing. There's no game plan right now," said Fluhr, who will not re-enter the ticketing business due to a noncompete clause in the eBay deal.
StubHub also was pursued by Ticketmaster and TicketsNow.com, and considered an initial public offering.
"Right now, I'm just really looking forward to being with my family and experiencing being a new parent," he said.
The break from the office grind marks a decided downshift for Fluhr, who spent more than seven years doggedly, and ultimately with success, trying to sell the sports industry establishment on the idea of creating a safe, viable outlet to resell sports, concert and performing arts tickets.
After a number of initial hurdles and plenty of opposition from teams, Fluhr and StubHub entered into January's acquisition by eBay holding more than 30 official partnerships with pro clubs and college athletic programs and boasting annual revenue of more than $100 million.
More broadly, the company is widely credited for helping legitimize and solidify an industry now worth more than $10 billion per year, even by those on less-than-great terms with Fluhr.
"Look, there's no denying what the company has become, and Jeff did a great job bringing StubHub to a liquidity event," said Eric Baker, StubHub co-founder who left the company after a dispute with Fluhr, but who still brought in more than $30 million after the sale and now runs Viagogo.com, a European secondary ticketing company.
— Eric Fisher