We started StubHub less than five years after eBay invented the low-touch marketplace but we diverged from eBay in that we chose a higher-touch model. We oversaw the fulfillment of the tickets through API integration with FedEx and handled all customer support when users had questions or issues to resolve. We guaranteed every transaction which brought peace of mind to our users and made feedback obsolete. All payments flowed through our bank accounts so we could provide refunds if necessary. We offered these value-add components because we knew it would lead to a more seamless user experience, more loyal users…

I am excited to announce that Craft led the $35 million Series A round for Route earlier this year and I joined the Board. Route is an end-to-end Ecommerce solution that empowers both consumers and brands. Route’s mobile app is revolutionizing Ecommerce by helping consumers track, protect, and manage all their online orders, allowing brands large and small to enhance their post-purchase experience.

Route is one of the fastest-growing startups we’ve ever seen. The company, led by visionary serial entrepreneur, Evan Walker, is redefining Ecommerce for consumers and merchants, starting with the post-purchase experience.

The Problem

Ecommerce penetration doubled from…

Labor Marketplaces and the Future of Healthcare in the U.S.

First published in TechCrunch on September 15, 2020

Over the last several months, we’ve seen dramatic swings in the demand for healthcare across the country. While hospitals in some cities were overwhelmed by an influx of COVID-19 patients, others sat empty — and in many cases experienced financial distress — as patients postponed elective surgeries and care for non-life-threatening matters. Cities went from relative safe zones to dangerous hotspots and back again within a matter of a few months. This “COVID-19 whipsaw” has brought into focus a problem that has long been simmering in healthcare: the movement of labor is…

Craft recently led the $7.5mm Series A for Northspyre, a cloud-based intelligence platform for real estate owners, developers and project management firms. This is another exciting SaaS investment for us and I’ll be joining the Board.

Real estate is the largest asset class in the world but has historically experienced a lack of tech investment. Construction regularly ranks as the industry with the lowest technology spend relative to revenue. However, real estate is a highly collaborative industry that can have strong network effects when owners share tools with general contractors, architects, engineers, and other stakeholders. …

5 Lessons from the Dot-Com Crash

A once-in-a-generation stock market crash ushers in a period of economic turbulence and angst for founders — especially those who need to raise capital. That happened last month with COVID-19, but it also happened 20 years ago with the bursting of the dot-com bubble. For founders who didn’t experience the dot-com crash first-hand, it may be hard to imagine a reset even more severe than the current one. But the dot-com crash wiped out over 90% of the market caps of even the best internet companies and chilled tech investing for two years.

Despite that, many great companies emerged from…

The Coming Hyper-verticalization of Labor Marketplaces

Many people have written about the slew of unicorns created over the past decade by savvy entrepreneurs who picked off categories from Craigslist. Airbnb picked off “vacation rentals” and “shared rooms”. Tinder picked off “personals”. At StubHub, the company I founded, we picked off the “tickets” category. These companies all built valuable marketplaces by focusing on a specific vertical within Craigslist. Although Craigslist remains a lucrative property to this day, its basic (horizontal) layer of functionality gave way to a collection of vertical specialists who went deeper on solving a particular market’s problems.

That same unbundling that happened to Craigslist…

Jeff Fluhr

Now: General Partner of Craft Ventures. Former: Co-Founder/CEO of StubHub. Angel investor in Twilio, Houzz, Warby Parker, Trulia and others.

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