EBay is selling ticket resale site StubHub to its European rival, Viagogo, for $4.05 billion in a deal set to close next year.
The online auction house acquired StubHub in 2007 for $310 million.
“We believe this transaction is a great outcome and maximizes long-term value for eBay shareholders,” said eBay interim CEO Scott Schenkel in a statement. “We firmly believe in the StubHub business, and we are excited about its future growth potential with Viagogo as its owner.”
StubHub, which serves as a platform for buying and selling tickets to sports, music and theater events in 44 countries, was co-founded in 2000 in San Francisco by Jeff Fluhr and Eric Baker.
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