Skadden, Arps, Slate, Meagher & Flom LLP and Kirkland & Ellis LLP are acting as legal advisors for viagogo. In late breaking news, eBay announced this week they will acquire the leading Internet ticket seller, StubHub. This is one acquisition that really makes sense for eBay. eBay acquired StubHub back in early 2007. "Buyers will have a wider choice of tickets, and sellers will have a wider network of buyers. StubHub's acquisition by eBay was announced in January 2007 for a reported $310 million. In March, eBay finally caved to a minority group of very vocal investors. Now StubHub has acquired Zvents. (EBAY) - Get Report announced late Wednesday that it has agreed to acquire ticket-reselling site StubHub for approximately $310 million. The forward-looking statements in this document address a variety of subjects including, for example, the closing of the proposed transaction and the potential benefits of the proposed transaction. Note that eBay originally bought StubHub for $310 million back in 2007. eBay and viagogo announced they have entered into a definitive agreement for the online bidding platform to sell StubHub for a purchase price of $4.05 billion in cash. The move comes as the online ticket powerhouse takes on Ticketmaster He left before the ticket-selling company was sold to eBay … At StubHub, our mission is simple: help fans find fun. So, essentially, eBay has acquired Zvents. eBay (NASDAQ:EBAY) announced that it is buying rapidly growing online ticket broker StubHub for $310 million in cash. News Alerts are occasional emails about major eBay corporate announcements. https://www.ebayinc.com/stories/news/ebay-completes-sale-of-stubhub viagogo now serves customers in over 70 countries and processes millions of transactions annually. Goldman Sachs & Co. LLC is acting as financial advisor to eBay. SAN JOSE, Calif. and GENEVA, Nov. 25, 2019 /PRNewswire/ -- eBay Inc. (NASDAQ: EBAY) and viagogo today announced they have entered into a definitive agreement for eBay to sell StubHub to viagogo for a purchase price of $4.05 billion in cash. About StubHub: At StubHub, our mission is to bring the joy of live to fans globally. While StubHub's revenue accounted for … Eric Baker, Viagogo’s founder and CEO, also was a co-founder StubHub while in business school, but he left before the sale to eBay. I am so proud of how StubHub has grown over the years and excited about the possibilities for our shared future," Baker said. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law. According to CNN Money, 2007 was a very successful year for the company, handling five million individual transactions, more than in the previous six years combined of its history. SAN JOSE, Calif. & GENEVA, Switzerland, Nov. 25, 2019 – eBay Inc. (NASDAQ: EBAY) and viagogo today announced they have entered into a definitive agreement for eBay to sell StubHub to viagogo for a purchase price of $4.05 billion in cash. Offering a superior fan experience at its core, StubHub reinvented the ticket resale market in 2000 and continues to lead it through innovation. The website sells tickets for a variety of events, including sports and concerts. Wachtell, Lipton, Rosen & Katz and Quinn Emanuel are acting as legal advisors to eBay. viagogo Acquires StubHub from eBay for $4.05 Billion. StubHub provides the total end-to-end event going experience throughout the world. Jul 06, 2020 PRNewswire/ -- eBay Inc. (NASDAQ: EBAY) and viagogo today announced they have entered into a definitive agreement for eBay to sell StubHub to viagogo for a . Multiple Suitors Have Lined Up to Acquire eBay’s StubHub. J.P. Morgan is acting as sole financial advisor and sole underwriter of the committed debt and preferred equity financings for viagogo. About viagogo: viagogo was built with the aim of providing ticket buyers with the widest possible choice of tickets to events across the world and to help ticket sellers reach a global audience. https://www.cnn.com/2019/11/25/business/ebay-stubhub-viagogo-deal HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Bringing these two companies together creates a win-win for fans - more choice and better pricing. The Watch List is a monthly roundup of top eBay news stories. EBay Inc. is selling off its StubHub division in a deal that was much desired by a set of activist investors. 1. In March, eBay finally caved to a minority group of very vocal investors. SAN JOSE, Calif. and GENEVA, Nov. 25, 2019 /PRNewswire/ -- eBay Inc. (NASDAQ: EBAY) and viagogo today announced they have entered into a definitive agreement for eBay to sell StubHub to viagogo … Backed by award-winning customer care, StubHub's FanProtect™ Guarantee means every ticket is guaranteed valid or you'll receive a replacement ticket of equal or better value, or your money back. For more information on StubHub, visit StubHub.com or follow @StubHub on Twitter, Facebook and Instagram or YouTube.com/StubHub. Terms of the deal are not being disclosed. Ticketbis, founded in 2009, is based in Bilbao and Madrid, Spain and became a market leader in Spain in its first year. This deal reaffirms our commitment to investing in StubHub and helping fuel its momentum. Ticketbis is one of the first to successfully export the American-born business model to the regions of Southern Europe, Latin America and Asia. The online secondary ticketing market has been around in the U.S for over a decade, however, in many countries, this type of business model is relatively new and unknown. In addition, actual results are subject to other risks and uncertainties that relate more broadly to eBay's overall business, including those more fully described in eBay's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended December 31, 2018 and subsequent quarterly reports on Form 10-Q. About eBay: eBay Inc. (NASDAQ: EBAY) is a global commerce leader including the Marketplace, StubHub and Classifieds platforms. Its sales are only a fraction of eBay’s bigger business but it is growing. eBay is about to become a heck of a lot richer. viagogo Acquires StubHub from eBay for $4.05 Billion SAN JOSE, Calif. and GENEVA, Nov. 25, 2019 /PRNewswire/ -- eBay Inc. (NASDAQ: EBAY) and viagogo today announced they have entered into a definitive agreement for eBay to sell StubHub to viagogo for a purchase price of $4.05 billion in cash. 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. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the possibility that regulatory and other approvals and conditions to the proposed transaction are not received or satisfied on a timely basis or at all; the possibility that eBay may not fully realize the projected benefits of the proposed transaction; changes in the anticipated timing for closing the proposed transaction; business disruption during the pendency of or following the proposed transaction; diversion of management time on transaction-related issues; the reaction of customers and other persons to the proposed transaction; and other events that could adversely impact the completion of the proposed transaction, including industry or economic conditions outside of our control. Throughout North America, the United Kingdom and Germany, StubHub provides the total end-to-end event going experience. To subscribe, click on the button below and copy the URL into an RSS reader. "In a world where the richest moments in life are becoming less about the things people have and more about the experiences they have to share, the acquisition of Ticketbis will allow us to connect millions more people with inspiring events,” said Scott Cutler, President of StubHub. We expect a seamless transition for all our employees, partners and customers, and we are excited for what the future holds.". Ticketbis will become part of eBay Inc.’s StubHub business, the largest ticket marketplace in the U.S. Staffing at StubHub had increased to 350 workers by the time of the sale. We are thrilled to be a part of the eBay family, and we look forward to continuing our innovation in ticketing as part of the StubHub brand.”. eBay has confirmed that it will buy StubHub for approximately $310 million, inclusive of the company's net cash as of the closing. eBay will … Viagogo acquires StubHub. StubHub's acquisition by eBay was announced in January 2007 for a reported $310 million. The transaction, subject to customary closing conditions, is expected to close in mid-2016. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com. EBay Inc. may be worth $15 billion if it sells ticket unit StubHub and the classified advertising business, making an attractive acquisition target for … Selling tickets is one of the easiest ways to make moneyContinue Reading viagogo to Provide Additional Flexibility and Resources to StubHub to Further Drive Scale, Global Reach and Innovation, Combination of Two Companies to Form a Global Live Experiences Marketplace. It gets 14 million monthly unique visitors. Such forward-looking statements are often identified by words such as "anticipate," "approximate," "believe," "commit," "continue," "could," "estimate," "expect," "hope," "intend," "may," "outlook," "plan," "project," "potential," "should," "would," "will" and other similar words or expressions. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com. With this acquisition, eBay Inc.’s StubHub business grows its presence across Latin America and Europe and expands into Asia Pacific, becoming the global ticket marketplace leader, as measured by volume of transactions and international reach. On Monday morning, San Jose-based eBay announced its plan to sell StubHub … “Together, the StubHub and Ticketbis marketplaces represent tremendous value and opportunity for fans around the world to experience the events they love, whenever and wherever they are. In 2018, eBay enabled $95 billion of gross merchandise volume. eBay regularly reviews its portfolio to ensure that its investments and assets support the company's strategic direction while adhering to a disciplined approach to value creation. eBay is about to become a heck of a lot richer. According to CNN Money, 2007 was a very successful year for the company, handling five million individual transactions, more than in the previous six years combined of its history. As the largest ticket marketplace in the U.S., we enable fans to buy and sell tens of thousands of tickets, whenever they want, through our desktop and mobile experiences, including our StubHub and StubHub Music apps for iPhone, iPad, Apple Watch and Android. StubHub itself was acquired by eBay in 2007 for $310 million. See also: Toronto-based startup Trufan acquires NYC’s SocialRank; Toronto startup 1Password secures $265 million in funding ", "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," said Sukhinder Singh Cassidy, president of StubHub. Our RSS feed includes all eBay news articles published on this website. ", “The acquisition of Ticketbis will enable us to significantly scale StubHub's international footprint," said Devin Wenig, President and CEO of eBay Inc. "eBay's global presence will help StubHub acquire new customers as it expands into markets outside of the U.S. Both viagogo and StubHub provide fans with transparency, choice and competitive prices for tickets and do so in a trusted and secure environment with fan-protect guarantees. At this time, StubHub intends to retain all Ticketbis employees. viagogo is a leading worldwide ticket marketplace for live sport, music and entertainment events, and StubHub is a trusted ticket marketplace in the United States. eBay is a global e-commerce website launched on September 3, 1995. Our business partners include more than 60 teams in MLB, NBA, NHL, MLS and NCAA, plus ESPN, NBC Digital, AEG and Spectra Ticketing & Fan Engagement. Viagogo CEO Eric Baker co-founded StubHub while in business school. eBay (NASDAQ:EBAY) announced that it is buying rapidly growing online ticket broker StubHub for $310 million in cash. SAN JOSE, Calif. and GENEVA, Nov. 25, 2019 /PRNewswire/ -- eBay Inc. (NASDAQ:EBAY) and viagogo today announced they have entered into a definitive agreement for eBay to sell StubHub … StubHub, an online site for reselling tickets to events, has been acquied by eBay for $310 million, minting the latest Silicon Valley millionaires in co-founders Jeff Fluhr and Eric Baker. Zvents has over 3 million events, generated from 140,000 local marketers in its catalog. It looks like the rumors forced … UPDATE: eBay has completed the acquisition of Ticketbis, an international ticket marketplace with a current presence in 48 countries. “The only boundary to an incredible experience is access, and this acquisition will enable StubHub to offer more events on a global basis to fans and event-goers around the world, and to help them discover new ways to enrich their lives. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity through Connected Commerce. 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