StubHub is changing hands. eBay announced on Monday it has agreed to sell the secondary ticketing giant to Geneva-based resale marketplace Viagogo for a price tag of $4.05 billion in cash. Combining the two companies, if approved by regulators, would boost their overall reach to over 70 countries.
San Francisco-based StubHub was co-founded by Viagogo founder and CEO Eric Baker, who left the former before it was sold to eBay for $310 million in 2007. "It has long been my wish to unite the two companies,” he said. “I am so proud of how StubHub has grown over the years and excited about the possibilities for our shared future.”
The sale is expected to close by the end of the first quarter of 2020, subject to regulatory approval and closing conditions. Goldman Sachs & Co. LLC is acting as financial advisor to eBay. Wachtell, Lipton, Rosen & Katz and Quinn Emanuel are acting as legal advisors to eBay.