eBay to sell ticket marketplace StubHub to viagogo for $4.05 billion

guest · Nov 25, 2019

eBay to sell ticket marketplace StubHub to viagogo for $4.05 billion
November 25, 2019
https://techcrunch.com/2019/11/25/e...ketplace-stubhub-to-viagogo-for-4-05-billion/

eBay this morning announced it’s selling its ticket marketplace StubHub to Swiss ticket reseller viagogo for a cash price of $4.05 billion. The deal will merge StubHub U.S.-based marketplace with viagogo, which serves a worldwide audience as a ticket marketplace for live, sport, music, and entertainment events for fans in Europe, Asia, Australia, and Latin America.

The plan to sell of StubHub was initially sparked by activist investors, Elliott Management Corp. and Starboard Value LP, who began to pressure eBay to exit businesses that weren’t a part of its core marketplace, including StubHub’s ticketing and eBay’s classified ads businesses.
eBay has been challenged over the past few years as it has tried to move away from its roots of being an online auction marketplace, to instead battle with e-commerce giants like Amazon.
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The deal is expected to close in the first quarter of 2020, subject to regulatory approval and customary closing conditions.
The Wall Street Journal was first to report on the deal, ahead of eBay’s formal announcement.
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