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Viagogo agrees to buy StubHub from eBay in US$4bn deal

Proactive Investors Monday, 25 November 2019 ()
Ticket reseller Viagogo has agreed to buy its rival site StubHub from eBay Inc (NASDAQ:EBAY) in a deal worth US$4bn (£3.1bn). The merger will see StubHub return to its co-founder, Eric Baker, who left the company before it was sold to eBay in 2007 for US$310mln. “It has long been my wish to unite the two companies. I am so proud of how StubHub has grown over the years and excited about the possibilities for our shared future”, Baker said. eBay added in its own announcement that the sale will provide punters with access to hundreds of thousands of tickets across 70 countries, while its interim chief executive Scott Schenkel said the move “maximises long-term value for eBay shareholders”. However, customers themselves may be less enthused given Viagogo’s controversial reputation. The site has attracted criticism in the past over its lack of consumer protection, allowing ticket touts to resell tickets on the site at eye-watering mark-ups far beyond the price of the original ticket. Earlier this year, Viagogo was threatened with court action by the Competition and Markets Authority (CMA) over how it presented key ticketing information to customers, such as advertising tickets without seat numbers or not warning buyers that they may be turned away from an event for buying resold tickets. Shares in eBay were 1.4% higher at US$35.62 in mid-morning trading in New York on Monday.
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News video: EBay Sells StubHub For $4.05 Billion

EBay Sells StubHub For $4.05 Billion 00:27

FILE PHOTO: The eBay logo is pictured on a phone screen in this photo illustration in New York, U.S., July 23, 2019. REUTERS/Brendan McDermid/Illustration (Reuters) - EBay Inc (EBAY.O) will sell its ticketing unit, StubHub, for $4.05 billion to ticket reseller Viagogo Ltd in an all-cash deal, the...

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Credit: Rumble     Duration: 01:31Published

EBay to sell StubHub for $4.05 billion [Video]EBay to sell StubHub for $4.05 billion

EBay will sell its ticketing unit StubHub in an all-cash $4.05 billion deal to ticket reseller Viagogo, the companies said on Monday, nearly a year after the e-commerce major came under pressure from..

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Sara Fakhri .. RT @AMDeeb90: Swiss ticket reseller Viagogo to snap up StubHub from eBay in $4bn deal https://t.co/neMeb2BU3E 6 days ago


You've Cott Mail Protests as Swiss ticket reseller Viagogo snaps up StubHub from eBay in $4bn deal https://t.co/eOcVzrh2X8 1 week ago


The Church of Dylan Swiss ticket reseller Viagogo to snap up StubHub from eBay in $4bn deal https://t.co/bZPYhE7I9W 1 week ago


AbdulRahman Deeb 🇱🇧 عبدالرحمن ديب Swiss ticket reseller Viagogo to snap up StubHub from eBay in $4bn deal https://t.co/neMeb2BU3E 1 week ago


ArtsJournal StubHub Sold To Viagogo For $4 Billion: “Campaign groups have urged regulators to protect music and sports fans f… https://t.co/8Nk1X3pRUn 1 week ago


thetrichordist RT @helienne: How is this glorified mass ticket tout still allowed to operate??? Swiss ticket reseller Viagogo to snap up StubHub from eBay… 1 week ago


Roger Tomlinson UK’s Which? and fan groups oppose merger as reviled Swiss ticket reseller Viagogo to snap up StubHub from eBay in $… https://t.co/hZsO2m2bXi 1 week ago


Name PR Comment from @FEAT_org on the Viagogo / StubHub acquisition: https://t.co/E0ZeGgGfpp 1 week ago

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