Geneva-based online ticketing site Viagogo has bought the rival StubHub in a $4 billion deal, the two firms revealed on Monday.
Previously, Viagogo sold tickets for live sport, music and entertainment events but the new deal will allow Viagogo to access more than 70 countries around the world and provide a bigger choice of tickets for its customers.
“Buyers will have a wider choice of tickets, and sellers will have a wider network of buyers,” said Mr. Baker.
The deal was set to come into force at the beginning of the month, putting StubHub back in the control of its co-founder Eric Baker.
eBay bought it for $310m in 2007 and after that, Mr Baker launched Viagogo and continues to run the site, left StubHub. But this move has reunited Baker with StubHub again.
“Bringing these two companies together creates a win-win for fans – more choice and better pricing.”
The deal comes after Viaggo faced legal action from the Competition and Markets authority that the way it operates to customers is wrong. In September, Viagogo made corrections in the presentation of information to the people.
The site also suspended by Google following a claim that touts use the site to sell tickets at an inflated price.
“When people use our platform for help in purchasing tickets, we want to make sure that they have an experience they can trust,” said Goggle in a statement and added,
“This is why we have strict policies and take necessary action when we find an advertiser in breach.”
The CMA had asked operators such as Viagogo to improve the information they provided about tickets.
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Viagogo Buys StubHub in $4bn deal
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