eBay Completes Sale of StubHub
Summary
SAN JOSE, Calif., Feb. 13, 2020 /PRNewswire/ — eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today announced that it has completed the sale of StubHub to viagogo for $4.05 billion in cash. 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 completion of this transaction results in net proceeds of $3.1 billion. With the divestiture of StubHub complete, the Company is updating its capital allocation plans as well as first quarter and full year guidance figures. The increase versus previous guidance reflects the benefit of share buybacks and investment timing, partially offset by the impact of removing StubHub. The increase versus previous guidance reflects the benefit of share buybacks, partially offset by the impact of removing StubHub.