Viagogo Acquires StubHub From eBay For $4.05 Billion

eBay and viagogo have announced they have an agreement in place for eBay to sell StubHub to viagogo for $4.05 billion in cash.

viagogo and StubHub are two of the world’s biggest ticket marketplaces for live sport, music and entertainment events. The sale is expected to close by the end of the first quarter of 2020, subject to regulatory approval and customary closing conditions.

Combined, these complementary marketplaces will sell hundreds of thousands of tickets daily across more than 70 countries, giving fans seamless access to a wider selection of inventory around the world, while sellers, teams and artists will have the ability to more effectively reach a broader global audience.

“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 Inc. “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.”

Eric Baker, viagogo’s founder and CEO, who also co-founded StubHub while in business school, but left before the business was sold to eBay for $310 million in 2007, said: “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.”

Sukhinder Singh Cassidy, President of StubHub, added: “Bringing StubHub and viagogo together will allow us to drive further expansion and innovation, and create a more competitive offering for live event fans globally.

“This provides a great opportunity to expand our business, pursue new partnerships and execute our strategy. We expect a seamless transition for all our employees, partners and customers, and we are excited for what the future holds.”