eBay to buy StubHub, its ticket reseller biggest competitor
Looks like the mergers & acquisitions market is really hot these days. Following yesterday’s MyBlogLog acquisition by Yahoo! and StudiVZ a few days ago, today we find that eBay has agreed to buy StubHub, an online ticket reseller, for $310 million in cash.
StubHub was founded in 2000 and made more than $400 million in gross ticket sales last year. It offers a secure way for buyers and sellers to exchange tickets as StubHub acts as a middleman and includes money-back guarantee. According to Bill Cobb, president of eBay North America Marketplaces, it’s a perfect complement to eBay’s tickets business. What comes next? Only time will tell.
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