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eBay considers StubHub sale

World News
November 4, 2019

E-COMMERCE SITE eBay is to make a decision on the potential sale of their ticket resale platform StubHub.

In a second quarter (Q2) financial report, the company said it would continue to “review the role and value” of StubHub and reveal more before the Q4 earnings release in January.

In its Q3 financial report, eBay said the StubHub platform had revenue of $306 million, up five per cent on the same quarter last year.

The move follows a item in the UK’s Sunday Times newspaper that eBay was under pressure from its activist investors to sell the platform and had hired merchant banker Goldman Sachs to draw up options.

Pressure from governments and campaign groups has been growing on major secondary ticketing websites worldwide, with Live Nation Entertainment-owned Ticketmaster closing its two resale sites – Seatwave and GetMeIn – in Europe and Viagogo facing a significant fall in sales, after Google banned it from advertising on the search engine.

StubHub was bought by eBay in January 2007 for a reported $310 million in cash. Co-founder Eric Baker then went on to launch Viagogo, in the UK.

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