eBay Sells Its Service to a Competitor for $4 Billion.
Representatives of the largest US online auction site eBay announced the sale of their own ticket service for 4.05 billion US dollars. “We believe this transaction is a great outcome and maximizes long-term value for eBay shareholders”, Scott Schenkel, the interim chief executive officer said. The official closure of this deal is expected in the first quarter of next year, as this requires the approval of the financial regulator. Viagogo and StubHub services offer ticket purchases. After joining their efforts, sales will be in the hundreds of thousands per day.