eBay Completes StubHub Acquisition
San Jose, Calif., February 13, 2007 - eBay, The World's Online Marketplace (Nasdaq: EBAY; www.ebay.com), today completed its previously announced acquisition of StubHub, a leading online marketplace for the resale of event tickets.
eBay announced the acquisition on January 10, 2007. eBay has acquired StubHub for an approximate aggregate value of $307 million, which includes approximately $21 million of net cash as of the closing.
StubHub is the fan's ticket marketplace, enabling customers to buy and sell tickets at fair market value to a vast selection of sporting, concert, theater and other live entertainment events, even those that are "sold out." The company's unique open marketplace, dedicated solely to tickets, provides all fans the choice to buy or sell their tickets in a safe, convenient, and highly reliable environment. All transactions are processed and delivered via StubHub's patent-pending FanNetwork(SM) ticket delivery service, supported by seven-day toll free customer service, and backed by the industry-first FanProtect(SM) Guarantee. Company partners include sports teams in the NFL, NBA, NHL, leading NCAA athletic programs and media companies including AOL. StubHub is headquartered in San Francisco.
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Founded in 1995, eBay pioneers communities built on commerce, sustained by trust and inspired by opportunity. eBay enables e-commerce on a local, national and international basis with an array of websites - including the eBay Marketplaces, PayPal, Skype, Kijiji, Rent.com and Shopping.com - that bring together millions of buyers and sellers every day.