Internet auction giant eBay is one of the nation’s largest exchanges for event tickets, and in early 2007 the company bought StubHub for $307 million.
eBay helped to create the modern model of online ticket exchanges because it allows fans and brokers to quickly list event ticket inventory for resale in a single destination.
The company was sued by Ticketmaster in 2007 for contract infringement for allegedly violating contracts Ticketmaster had with several arenas. The lawsuit centered on the Lynyrd Skynyrd/Hank Williams Jr. “Rowdy Frynds Tour” of the same year, because StubHub had been named the official premium ticket vendor for the tour. Ticketmaster said that violated its ticketing contracts with several of the venues the tour was going to visit. The two sides settled the case in late 2008 under undisclosed terms.
eBay and StubHub were also sued by the City of Chicago in 2008 for allegedly not collecting the city’s 8 percent Amusement Tax on event tickets. The companies do not believe it should be held responsible for collecting the tax of individual resellers.
The company unofficially teamed up with TicketNetwork in 2009 to not allow people to resell President Obama Inauguration tickets, which had been distributed free.
It was reported earlier this week that the e-commerce platform eBay was one of the “many outlets” considering a potential acquisition of the secondary ticketing site StubHub. Since this news leaked, eBay’s stocks have risen. According to the Los Angeles Times, eBay’s (NASDAQ: EBAY) shares rose almost 6 percent... Read more
CNBC is reporting that e-commerce giant eBay is exploring a potential sale of StubHub, with “multiple” parties interested in the potential acquisition of the ticket resale marketplace. Company stock (NASDAQ: EBAY) jumped more than 2% on Monday with the news. The rumors of the sale follow the announcement of... Read more
eBay is reportedly in active negotiations with activist investors Starboard Value and Elliott Management, which could lead to the company’s split with StubHub and its Classifieds unit. According to The Wall Street Journal, eBay is close to settling a dispute to give the activists a seat on its board,... Read more
A pair of investors, who hold a large stake in eBay, urged the company to either sell or spin-off StubHub and its classifieds unit in order to shift focus onto its Marketplace. New York investors Elliot Management Corp. and Starboard Value LP called on eBay to cut ties with... Read more
TicketNetwork and Ticket Galaxy have filed simultaneous lawsuits against acting New York Attorney General Barbara Underwood, according to press releases issued by both Connecticut-based companies. The lawsuits were filed in reaction to what the companies characterize as a “deeply flawed interpretation of New York State Law,” as it pertains... Read more
eBay stock (NASDAQ: EBAY) fell more than 10 percent in trading on Thursday, its worst performance in the market since an 11 percent drop in October of 2016, according to reporting by CNBC. The precipitous fall came in the wake of the company reporting sluggish growth and lowering its... Read more
A California judge has ruled against a motion to dismiss a lawsuit filed against StubHub over alleged “drip pricing” practices – showing an artificially low price to the consumer, only to disclose fees at the last minute – meaning the eBay (NASDAQ: EBAY) subsidiary and ticket resale giant will... Read more
eBay (NASDAQ: EBAY) announced the hiring of Sukhinder Singh Cassidy as the new President of StubHub, reporting directly to eBay Inc. CEO Devin Wenig. She replaces Scott Cutler, who departed the ticketing specific marketplace to become SVP at eBay and head of eBay’s Americas business unit. Singh Cassidy comes... Read more
StubHub, owned by eBay (NASDAQ: EBAY) has been throwing its weight around a bit as of late against competition in the secondary marketplace. Recent news related to the publicly-traded company’s earnings – particularly compared against primary giant (and secondary competitor) Live Nation (NASDAQ: LYV) – may offer some insight... Read more
StubHub is in the market for a new top executive, as Scott Cutler has been promoted to a position at parent company eBay (NASDAQ: EBAY), announced on Monday morning. Cutler will continue to lead StubHub while the company searches for a new leader. His new position, Senior Vice President... Read more