eBay and viagogo have entered into a definitive agreement for eBay to sell StubHub to viagogo for a purchase price of $4.05 billion in cash.
“We believe this transaction is a great outcome and maximizes long-term value for eBay shareholders,” said Scott Schenkel, interim chief executive officer of eBay. “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 a leading worldwide ticket marketplace for live sport, music and entertainment events, and StubHub is a ticket marketplace in the U.S.
Eric Baker, viagogo’s founder and CEO, also co-founded StubHub while in business school, but left before the business was sold to eBay for $310 million in 2007. “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. “Buyers will have a wider choice of tickets, and sellers will have a wider network of buyers. Bringing these two companies together creates a win-win for fans— more choice and better pricing.”
The sale is expected to close by the end of the first quarter of 2020, subject to regulatory approval and customary closing conditions.