2019-11-30_Techlife_News

(Darren Dugan) #1

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.


EBAY SELLING STUBHUB TO VIAGOGO FOR $4.05 BILLION
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