eBay's concert ticket platform being sold to Viagogo for $4bn

Viagogo has struck a deal with eBay to buy the selling platform’s ticketing firm StubHub for around £3.1bn.

Said to be an all-cash deal, the move is set to create more choice for customers. eBay acquired StubHub in 2007 for $310m.

This means that Viagogo’s boss Eric Baker is ‘coming back’ to StubHub, which he co-founded and then left before eBay took over.

He said he is “proud” of how much the ticketing platform has grown since 2007, and believes “buyers will have a wider choice of tickets, and sellers will have a wider network of buyers.”

The acquisition follows on from the UK’s competition authority supposedly suspending legal action against Viagogo. This is said to be after the company made operational changes.

In September this year, it altered the way in which information is presented to customers, thus prompting legal action from the CMA.

The deal comes after the UK’s competition authority suspended legal action against Viagogo after it made changes to the way it operates.

In September, Viagogo amended the way it presents information to customers which the Competition and Markets Authority (CMA) said meant the website was now “worlds apart” from the one that prompted the legal action.

The takeover is subject to regulatory approval. eBay shares rose three per cent following the deal’s reveal.

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