EBay is selling StubHub to ticket seller viagogo for $4.05 billion in cash.
Published 1:58 PM EST Nov 25, 2019
In this July 11, 2019, file photo, an Ebay app is shown on a mobile phone in Miami. EBay is selling StubHub to ticket seller viagogo for $4.5 billion.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.Louis Vuitton, Hennessy owner LVMH to acquire Tiffany for $16 billionPublished 1:58 PM EST Nov 25, 2019
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