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.
eBay CEO Devin Wenig has stepped down in the midst of a push by activist investors to sell off assets, including ticket resale marketplace StubHub, the company announced this week. He has been replaced for the time being with Scott Schenkel, eBay’s senior vice president and chief financial officer.... Read more
By: Eric Fuller Dan Auerback and Patrick Carney are The Black Keys, an American garage, blues and indie rock band which has not toured for the past six years. Dan handles guitar and vocal while Patrick plays the drums. Although their band is essentially two people, they are known... Read more
Vivid Seats LLC is reportedly among the interested parties as eBay (NASDAQ:EBAY) considers spinning off leading ticket resale marketplace StubHub, according to numerous outlets. Bloomberg says that Silver Lake and KKR & Co. are also among those considering a bid, and that bids could range as high as $3... Read more
By: Eric Fuller StubHub is for sale. Interested? Cramer says it could sell for $10 billion. Quite possibly it’s worth zero. Here’s what you ought to know: StubHub is a resale ticket marketplace owned by eBay. It’s where consumers from around the world buy tickets to events. Before StubHub,... Read more
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