Just announced earlier today: eBay and viagogo have confirmed they have entered a definitive agreement to sell StubHub to viagogo for a purchase price of $4.05 billion in cash.
In a press release, interim CEO of eBay Scott Schenkel said this: “We believe this transaction is a great outcome and maximizes long-term value for eBay shareholders. Over the past several months, eBay’s leadership team and Board of Directors have been engaged in a thorough review of our current strategies and portfolio, and we concluded that this was the best path forward for both eBay and StubHub. We firmly believe in the StubHub business and we are excited about its future growth potential with viagogo as its owner.”
viagogo is no stranger to the ticketing world, already a leader in the worldwide ticket marketplace. And StubHub is a trusted ticket reseller spot and actually does allow you to trade up tickets that you’ve bought but can’t find anyone to go with you.
The sale is expected to close by the end of the first quarter of 2020, subject to regulatory approval and customary closing conditions. Read more here.