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eBay buys Ticketbis to expand its StubHub business into Europe, Latin America

TechCrunch TechCrunch 24/05/2016 Ingrid Lunden

While EBay continues to build out its core marketplace for physical goods, it’s also investing to expand other businesses and brands, too. Today the company announced that it has acquired Ticketbis, an online ticket marketplace based out of Bilbao. EBay plans to roll Ticketbis into StubHub, its own ticket marketplace, and will expand StubHub into 47 more markets, specifically with an emphasis on Europe, Latin America and Asia Pacific.

Terms of the deal have not been disclosed but we are trying to find out. The deal is expected to close mid-2016.

StubHub has been in the news lately for controversial reasons — specifically for allegations that there are not enough checks on the site for sales of fake tickets. It will be interesting to see how and if having a larger organization will impact that issue.

“In a world where the richest moments in life are becoming less about the things people have and more about the experiences they have to share, the acquisition of Ticketbis will allow us to connect millions more people with inspiring events,” said Scott Cutler, President of StubHub, in a statement. “The only boundary to an incredible experience is access, and this acquisition will enable StubHub to offer more events on a global basis to fans and event-goers around the world, and to help them discover new ways to enrich their lives.”
“The acquisition of Ticketbis will enable us to significantly scale StubHub’s international footprint,” added Devin Wenig, President and CEO of eBay Inc. “eBay’s global presence will help StubHub acquire new customers as it expands into markets outside of the U.S. This deal reaffirms our commitment to investing in StubHub and helping fuel its momentum.”
“StubHub’s extensive assets will add tremendous value for ticketing patrons and sellers worldwide, especially as we continue our expansion into nascent markets,” said Ander Michelena, co-founder of Ticketbis. “Together, the StubHub and Ticketbis marketplaces represent tremendous value and opportunity for fans around the world to experience the events they love, whenever and wherever they are. We are thrilled to be a part of the eBay family, and we look forward to continuing our innovation in ticketing as part of the StubHub brand.”
Ticketbis had raised just under $26 million, with investors including Fabrice Grinda, Active Venture Partners and Jose Marin.
StubHub itself was acquired by eBay in 2007 for $310 million.
More to come.

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