eBay Stores. eBay Buys StubHub Ticket Broker For $310M. What a complete and total joke. StubHub accounted for about 14% of eBay… eBay, Inc. operates as a commerce company, which engages in the provision of investments and acquisitions to help enable commerce on platforms for buyers and sellers online or on mobile devices. Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Elliott owns a stake that's more than 4 … Eric Baker, Viagogo’s founder and CEO, also co-founded StubHub, but left before the business was sold to eBay for $310 million in 2007. Law Firm Alleges Shipping Carrier Charged Buyers Misleading Fees, Etsy to Provide New Weekly Performance Report: by Email, eBay CEO: Survey Shows Its Tools Helped Sellers in a Tough Year, Amazon Responds to Questions on June FBA Fee Increase, eBay Promoted Listings Ads: Set and Forget. eBay is officially out of the online ticket resale business, to the tune of $4 billion. Just goes to show that once again the Monkeys were smarter than Ebay Management. Payment services? The move is also expected to eventually add $2 billion of revenue to the eBay business, because the company will start to charge eBay sellers for the payments service; today, PayPal does. Site issues, errors, checkout problems, declining sales, and an exodus of buyers and sellers will continue. Although Amazon gets all the attention, eBay's e-commerce business should do well in the current environment. Viagogo CEO Eric Baker co-founded StubHub while in business school. If GMV continues to drop each quarter going forward, Ebay’s stock price should also start dropping further and further each quarter until even buying their stock back will no longer be any help. eBay Sells StubHub and Will Buy Back Own Shares, eBay CEO Touts Company’s Role in Empowering Entrepreneurs, Sellers Choice 2020 Marketplace Ratings: Ruby Lane. All of them have ZERO interest in eBay’s customer base, future growth, or the least bit of competence. The eBay companies listed on the side menu of the home page are eBay-owned websites that offer additional services, as follows. Other eBay Companies. Any guesses what executive compensation is tied to? By putting your guide on EcommerceBytes, you’re not only building a resource that tens of thousands of sellers use, but you can also gain exposure to your listings on. For the full year 2020, eBay now expects net revenue between $9.56 billion and $9.76 billion, reflecting the impact of removing StubHub. . Rate and review services within the ecommerce industry and let others know how you feel! eBay also makes money through advertising on its classifieds marketplace and other services. Share your expertise! eBay is officially out of the online ticket resale business, to the tune of $4 billion. eBay is a global e-commerce website launched on September 3, 1995. Well either Elliott got out voted on this or they have gotten inside and now also see that trying to fix Ebays platform is no longer cost effective as their stated goal was to take the money from the sale of StubHub and start fixing the Ebay Marketplace. It’s heading for a fire sale and that’s all there will be. If you are an Ebay shareholder good things are coming! We all should help them in abandoning ship by moving as much of our products completely off of Ebay onto our other sites since they plan on doing nothing to try and help their sellers going forward. EBay bought StubHub for $310 million in 2007. SAN JOSE , Calif. and GENEVA , Nov. 25, 2019 /PRNewswire/ - eBay Inc. (NASDAQ: EBAY ) and viagogo today announced they have entered into a definitive agreement for eBay to sell StubHub to viagogo for a purchase price of $4.05 billion in cash. I fear you are right Silver Ice King. Buy and sell sports tickets, concert tickets, theater tickets and Broadway tickets on StubHub! eBay is selling its StubHub ticket-resale marketplace for $4.05 billion, nearly a year after activist investor Elliott Management forced its way into the picture and recommended eBay consider selling StubHub, eBay Classifieds, and possibly the eBay marketplace itself. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). ZERO! “The StubHub transaction reinforces our commitment to creating shareholder value and is consistent with other steps we have taken such as margin improvement, share buybacks and issuing dividends. ... We’re motley! eBay said Tuesday it is acquiring Ticketbis, a Spain-based online ticket marketplace, to give its own ticketing platform StubHub more traction overseas. Should You Be Getting Ready for a Sales Blitz? Consignment and Wholesale Services? StubHub’s problems come amid a massive restructuring at parent company EBay, which on Jan. 21 announced plans to eliminate 2,600 jobs (about … You can learn more about them in Chapter 7, Open an eBay Store. The impending review of StubHub, as well as the eBay Classifieds Group, follows an open letter issued in January by one of eBay’s largest investors, Elliott Management Corporation, calling for a “comprehensive portfolio review” and suggesting that the divestitures of the subsidiaries will create more value for eBay shareholders. It's likely that StubHub contributes even more to eBay's profits than it does to overall sales. eBay also said it was expanding its share buyback plans for 2020 from $1.5 billion to $4.5 billion. Listing Services? The stock gained momentum after eBay announced the sale of StubHub to Viagogo for … Which marketplace do our readers feel is best? We are operating with discipline and focus, improving financial performance and delivering improved customer experiences. It is becoming all too clear that Ebay’s Management as well as the BOD has given on trying to make Ebay a player in the Ecommerce Marketplace going forward. You can find the full press release on the eBayInc.com website. On behalf of the eBay team, we're excited to see how StubHub evolves in its next phase and benefits fans, partners and employees.". "The completed sale of StubHub to Viagogo is a great outcome both in terms of the $4.05 billion sale price and the potential StubHub has with its new owner," said Scott Schenkel, interim CEO of eBay Inc. "The StubHub transaction reinforces our commitment to creating shareholder value and is consistent with other steps we have taken such as margin improvement, share buybacks and issuing dividends. January 11, ... the Yankees are trying to stifle competition for an online market that the baseball team hopes to operate on its own. A: There are no changes to our pricing structure or fees. Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. Classifieds revenue growth is, in fact, accelerating on an foreign exchange-neutral basis. That makes this something of a … eBay has completed the previously announced sale of its ticket marketplace StubHub to Viagogo for $4.05 billion in cash, resulting in net proceeds of $3.1 billion. As usual, they’re running another orchestrated con job in an attempt to pump the stock price or at least keep it afloat. The increase versus previous guidance reflects the benefit of share buybacks and investment timing, partially offset by the impact of removing StubHub. All they will be doing is cutting any signs of fat so that they can piece out the company and end the years of misery that Donohoe and Wenig brought on this company. The increase versus previous guidance reflects the benefit of share buybacks, partially offset by the impact of removing StubHub. Q: How long will it take before StubHub is "officially" separated from eBay? “On behalf of the eBay team, we’re excited to see how StubHub evolves in its next phase and benefits fans, partners and employees.”. eBay core business is a platform business model that makes money from transaction fees happening through its marketplaces (eBay and StubHub). Each acquisition is for … All Buying back the outstanding Stock is going to do is drive the Selling Price up slightly until once again they announce another quarter of pathetic earnings from operations. With the divestiture of StubHub complete, eBay now expects net revenue between $2.31 billion and $2.36 billion in the first quarter of 2020, reflecting the impact of removing StubHub. The company completed a timely sale of its StubHub business for $4 billion. Q: If StubHub maintains its own website, will buyer fees change? I pray they all get their dues. According to CNN Money, 2007 was a very successful year for the company, handling five million individual transactions, more than in the previous six years combined of its history. All rights reserved. Viagogo is a Switzerland … The website sells tickets for a variety of events, including sports and concerts. Both StubHub and Classifieds are growing faster than eBay's marketplace. The company, which was founded in 1995, has also developed and acquired several online marketplaces including StubHub and Classifieds. As anyone who knows how this company operates, and as expected, they’re going to dump all of the StubHub cash into buybacks. eBay delivered in-line second-quarter financial results Wednesday and noted that it's exploring the value of its StubHub and Classifieds businesses amid rumors of a potential sale. This literally means they are NEVER going to do anything about the marketplace. eBay also said it was expanding its share buyback plans for 2020 from $1.5 billion to $4.5 billion. It’s all they ever do. Ebay shares rose 1% on the news. Viagogo is a worldwide ticket marketplace for live sport, music and entertainment events, and StubHub is a ticket marketplace in the U.S. Staffing at StubHub had increased to 350 workers by the time of the sale. However, eBay's ticket-selling business, StubHub, benefits from a higher, and rising, take rate, which has offset the dip in the marketplace business. A StubHub sale would also ensure a sizable payout to Elliott and Starboard since both firms own a piece of eBay. eBay Stores are cyber-stores where you can sell inventory at fixed prices. Combined, these marketplaces will sell hundreds of thousands of tickets daily across more than 70 countries. Once you buy your tickets, they are yours to own. What a clown show eBay is. The companies entered a definitive sale agreement in November 2019, and the sale occurred within the expected timeframe. A company that is paying dividends and buying back its shares is a great investment for the shareholders (of which I am one).Geetar posted a link above that explains this very point in great detail. https://seekingalpha.com/article/4324431-ebay-stock-16-total-yield-based-on-buybacks-and-dividends. The company primarily makes money by charging fees on successfully closed transactions. Summary. eBay interim CEO Scott Schenkel said in a press release: “The completed sale of StubHub to viagogo is a great outcome both in terms of the $4.05 billion sale price and the potential StubHub has with its new owner. He left before the ticket-selling company was sold to eBay … Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. But easily eBay’s most noteworthy acquisition was that of PayPal in 2002, which it purchased for $1.5 billion and spun off into its own company in 2015. . Because ticket brokering is completely legal. How disgusting that these lawyers and financiers have no care or consideration for what once was an incredible institution. The completion of this transaction results in net proceeds of $3.1 billion. In addition to a competitive salary, employees receive full benefits (health, vision, dental), 401k matching, eBay stock options, and reimbursement for public transportation expenses. StubHub's acquisition by eBay was announced in January 2007 for a reported $310 million. Copyright © 1999-2021 Steiner Associates, LLC. eBay shares are trading 2% higher at the time of writing today. To that end, eBay said Monday (Nov. 25) that it will sell its StubHub ticketing operations to Viagogo Entertainment Inc., an online ticket reseller based in Switzerland, for $4 billion. But hey, while eBay deteriorates at least you know the executives, activist investors, and all other big players involved will be trying to cash out at higher prices. We are operating with discipline and focus, improving financial performance and delivering improved customer experiences. This is literally what you do when you want to inflate the value of the stock and the underlying company is failing. I’ve seen derelict buildings with better infrastructure. The company now expects GAAP earnings per diluted share in the range of $2.20 - $2.30 and non-GAAP earnings per diluted share in the range of $3.00 - $3.10. The e-commerce company has completed the $4.05 billion USD sale of its StubHub subsidiary to Swiss online ticket marketplace Viagogo. Also, because StubHub is owned by eBay, employees get access to a number of eBay company perks. There is no hope for eBay now. EBay has owned StubHub since 2007, when it bought the business from Messrs. Baker and Fluhr for $310 million. Way to go Ebay, you just showed the entire world that even you know that your site cannot be fixed. As of market close on … Wow who could have guessed that? We expect the deal to close in the first quarter of 2020. The company now expects GAAP earnings per diluted share in the range of $0.54 - $0.57 and non-GAAP earnings per diluted share in the range of $0.72 - $0.75. If you want to sell them to your friend, or whoever it is your right. 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