This time, Eric Baker, the co-founder of StubHub Holdings Inc., is looking to sell shares of the company he has been involved with for twenty-five years. Baker, who is 51 years old and the CEO, filed for a public offering of the company. In the previous year, the company generated $299 million in adjusted earnings before interest, taxes, depreciation, and amortization from sales of $1.77 billion, selling over 40 million tickets.

In the offering, Baker holds 5.2% of Class A shares and has more than 90% of the voting power through his Class B shares before the public offering. This allows him to maintain control over StubHub. The pricing and valuation details of the business have not been disclosed, but the proceeds from the offering will be used to reduce debt and further develop the business.

Eric Baker, a former McKinsey & Co. and Bain Capital employee, co-founded StubHub in 2000 with his classmate from Stanford University, Jeff Fluhr. The concept arose when Baker struggled to obtain tickets for a sold-out performance of The Lion King on Broadway. The vision was to modernize the resale of concert and sports tickets, moving it away from traditional scalping methods to an online platform.

StubHub enables ticket holders to list their tickets for sale on the website, charging fees to both buyers and sellers upon successful transactions. Despite facing criticism from consumers due to high prices for popular events, the service has earned a dedicated user base by ensuring the authenticity of tickets, a reassurance lacking in direct transactions between individuals.

Following a disagreement with Jeff Fluhr on the company's direction, StubHub was purchased by eBay Inc. in 2007 for $310 million. Subsequently, Eric Baker established Viagogo, a similar enterprise in London, receiving backing from investors such as Index Ventures and Bessemer Venture Partners.