Internet trader eBay has reached an agreement on the sale of his ticket seller StubHub. Viagogo and eBay ticket platform report that they have reached agreement on a deal involving a little over $4 billion, the companies confirmed after a media deal about a deal earlier in the day.
eBay, the parent company of the Dutch marketplace, had been known for some time that it was investigating the options for StubHub, as part of a larger intervention. The three-year plan that is used must ensure a profit margin improvement of 3 percentage points upon completion. More money must also be made available for investments, among other things through cost savings.
Viagogo is active worldwide as a seller of admission tickets for all kinds of events, from sports to concerts. StubHub is primarily a well-known name in the United States. According to those involved, the deal is good news for customers because they can choose from more events through the platforms. The deal must be completed at the end of the first quarter.