EBay is selling StubHub to ticket seller viagogo
for $4.05 billion in cash.
The transaction is part of a review that eBay
undertook earlier this year following pressure
from an activist investor. The San Jose, California-
based company then said it was also reviewing
options for its classified ads business.
EBay Inc. bought StubHub in 2007 for $310
million. Both StubHub and the classifieds
business each brought in less than 10% of eBay’s
total revenue last year.
The addition of StubHub will allow viagogo to
sell tickets in more than 70 countries and give
buyers access to a wider selection of tickets.
Viagogo’s founder and CEO Eric Baker is a StubHub
co-founder. In a statement, Baker said it has been
his longtime wish to unite the two companies.
The sale is targeted to close by the end of 2020’s
first quarter.