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EBay Buying StubHub for $310M in Cash
AP ^ | January 11th, 2007 | MICHAEL LIEDTKE

Posted on 01/11/2007 4:51:18 AM PST by lowbridge

EBay Inc. is buying rapidly growing online ticket broker StubHub Inc. for $310 million in cash, further expanding the Internet auctioneer's electronic bazaar.

The San Jose-based company announced the deal late Wednesday after the news had already been leaked to the media.

StubHub's sale, expected to close before April, punctuates another improbable Internet success story.

Jeff Fluhr, StubHub's 32-year-old co-founder and chief executive, launched the San Francisco startup against the dreary backdrop of the dot-com bust 6 1/2 years ago with another former student at Stanford Graduate School of Business, Eric Baker.

"StubHub's business model is an excellent fit with eBay, a company we've admired for a long time," Fluhr said in a statement. "StubHub exists to serve passionate fans and we feel great knowing our customers will benefit from the power of eBay and its community of users."

(Excerpt) Read more at wtopnews.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: ebay; stubhub

1 posted on 01/11/2007 4:51:19 AM PST by lowbridge
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To: lowbridge

StubHub operates an online market for reselling tickets to major events, creating an alternative market that has been thriving even as its existence incensed some of the sports teams whose tickets are being resold above their face value.


StubHub says buyers paid more than $400 million for tickets sold on its site in 2006, generating more than $100 million in revenue last year. People pay a 15 percent fee to sell tickets on the site, while the buyers are charged a 10 percent commission.


Since its inception, StubHub has brokered the sale of more than 5 million tickets.


2 posted on 01/11/2007 4:52:47 AM PST by lowbridge ("I wonder if he's in touch with the critics out there, like Matt Damon, the actor" -Chris Matthews)
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To: lowbridge

Online scalpers.

Nothing wrong with that, mind you. But let's call 'em what they are.


3 posted on 01/11/2007 4:54:33 AM PST by Peter W. Kessler (Dirt is for racing... asphalt is for getting there.)
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To: Peter W. Kessler

I've had great luck with StubHub, often getting tickets at the last minute at face value for events like the Army-Navy game. I hope eBay doesn't mess with the formula.


4 posted on 01/11/2007 4:57:50 AM PST by speedy
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To: speedy
I hope eBay doesn't mess with the formula.

I second that. StubHub has been a valuable resource in the past.

5 posted on 01/11/2007 5:00:37 AM PST by PBRSTREETGANG
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To: lowbridge
Okay, that's it. I'm organizing my own website and I'm calling it iBuy, a place to buy and sell things like eBay and StubHub. I expect to be bought out for millions of dollars in a couple of years. Anyone want in? Anybody?

Anybody know how??

6 posted on 01/11/2007 5:06:50 AM PST by Tanniker Smith (I didn't know she was a liberal when I married her.)
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To: Tanniker Smith

Ebay bought them, well prepare for 20% fees


7 posted on 01/11/2007 5:30:56 AM PST by DAC22
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To: lowbridge

Here is the problem with ebay - they are playing the role of monopolists. Did people like how they banned Google's Checkout tool from being used because it was "untested". Then it says it will cancel auctions and bans users who use it.

Why? Because people are fed up with paypal.


8 posted on 01/11/2007 5:33:07 AM PST by HotTubDave
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To: Peter W. Kessler
Nothing wrong with that, mind you. But let's call 'em what they are.

Okay: VERY RICH online scalpers :-)

9 posted on 01/11/2007 5:39:53 AM PST by lowbridge ("I wonder if he's in touch with the critics out there, like Matt Damon, the actor" -Chris Matthews)
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To: Tanniker Smith

I'm not positive but i think the word iBuy may be copyrighted.


10 posted on 01/11/2007 5:54:03 AM PST by ryan125
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To: Tanniker Smith
I am already working on that....
bidmyspace.com
I am hoping to hear from them in the next few months... $$$
11 posted on 01/11/2007 5:59:12 AM PST by VastRWCon
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To: Peter W. Kessler

The horror of American cowboy capitalism continues. After giving up six years of his life, selling tickets, this man only reaps 50 million dollars for each year lost. ( I'm not counting pay and compensation during those years of horror)

Sick.

If only we had an European social justice economy.

Poor guy.

(sarcasm/off)


12 posted on 01/11/2007 6:01:01 AM PST by Leisler (REAL ENVIRONMENTALISTS WALK.)
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To: lowbridge

No wonder they're raising their rates...again.


13 posted on 01/11/2007 7:09:05 AM PST by mass55th (Courage is being scared to death - but saddling up anyway~~John Wayne)
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To: ryan125
I'm not positive but i think the word iBuy may be copyrighted.

How about iBribe or iSteal?

14 posted on 01/11/2007 7:11:39 AM PST by lowbridge ("I wonder if he's in touch with the critics out there, like Matt Damon, the actor" -Chris Matthews)
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To: speedy

Ebay ruined Paypal, what's going to be different now? /retorical

I just wifh E-Gay had some kind of real compitition. When they disallowed firearms, gunbroker and auctionarms stepped up, but there is no real alternative to general auction items.


15 posted on 01/11/2007 7:38:12 AM PST by El Laton Caliente (NRA Member & GUNSNET.NET Moderator)
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To: Tanniker Smith

Better make sure Cisco doesn't already own it.


16 posted on 01/11/2007 7:40:08 AM PST by JZelle
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To: El Laton Caliente
My mother accidentally went to egay.com while i was in the room I highly suggest going to that site.
17 posted on 01/11/2007 8:05:45 AM PST by ryan125
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To: VastRWCon

Interesting site. Not sure what to make of it, but very interesting.


18 posted on 01/11/2007 8:38:35 AM PST by Tanniker Smith (I didn't know she was a liberal when I married her.)
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