viagogo, the globally active ticket marketplace for accessing live sports, music and entertainment events, announced it has completed its acquisition of StubHub. eBay inc has confirmed in their press release that it has completed the sale of StubHub to viagogo for $4.05 billion in cash. The acquisition will give consumers wider access to their favorite events.
These two complementary marketplaces will sell hundreds of thousands of tickets daily across more than 70 countries, giving fans seamless access to a wider selection of event tickets around the world, while sellers, teams and artists will have the ability to reach new audiences. This provides a huge opportunity to consumers, who will have access to more competitive pricing and broader offerings.
viagogo will maintain the StubHub brand and its headquarters in San Francisco, CA.
“The completed sale of StubHub to viagogo is a great outcome both in terms of the $4.05 billion sale price and the potential StubHub has with its new owner,” said Scott Schenkel, interim CEO of eBay Inc. “The StubHub transaction reinforces our commitment to creating shareholder value and is consistent with other steps we have taken such as margin improvement, share buybacks and issuing dividends. We are operating with discipline and focus, improving financial performance and delivering improved customer experiences. On behalf of the eBay team, we’re excited to see how StubHub evolves in its next phase and benefits fans, partners and employees.”
Since its inception in 2006, viagogo has grown to be an important option for fans in Europe, Asia, Australia and Latin America, and has partnered with many of the world’s leading brands in sports and entertainment. viagogo now serves customers in over 70 countries and processes millions of transactions annually.