eBay Gets a $4 Billion Payday for StubHub, but Its Assets Are Dwindling
eBay (NASDAQ: EBAY) announced on Monday that it has entered into a definitive agreement to sell StubHub to Swiss ticket seller viagogo for about $4 billion. This brings StubHub full circle: The ticket reselling platform was co-founded by Eric Baker, who is also founder and CEO of viagogo. The sale is expected to close by the end of the first quarter subject to regulatory approval and customary closing conditions.
Viagogo is a leading worldwide ticket marketplace for live sports, music, and entertainment events, and the deal seems like a natural fit. The combined marketplace will sell hundreds of thousands of tickets in more than 70 countries.
In a press release announcing the deal, Baker said the deal was a dream come true: "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."
Source Fool.com
