This will give you an idea of how big the market is for secondary ticket sellers. Ebay, which bought StubHub for US$310 million in 2007, unloaded the division to London-based Viagogo today (November 25) for US$4.05 billion. Not a bad return on investment, huh?
If all the regulatory stuff goes through as expected, the sale will close sometime early next year.
Get this: Eric Baker was the co-founder of StubHub when he was in business school. When he sold to eBay, he went on to found–wait for it–Viagogo.
What does this mean for the overall ticket reseller market? Well, the biggest just got bigger. We’ll see.
More at Music Business Worldwide.