Fast-growth secondary ticket marketplace, Ticketbis, is now part of the StubHub portfolio in a $165m deal that unifies the sector for global expansion
International ticket marketplace Ticketbis already has a presence in 47 countries, with an anchor in Spain and an expansive reach in Latin America. The mid-market company is slated to join eBay Inc.’s StubHub business, the largest ticket marketplace in the US in a deal that will close mid-2016.
StubHub is already a behemoth in this space, with a legacy of “firsts”, including announcing its first ticket guarantee that covers both buyers and sellers in 2006; launching the industry’s first ticketing app on iOS devices in 2010; and being the first ticketing company with stadium naming rights in 2013.
“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. “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,” Scott Cutler, President of StubHub, said.
Leaning on Ticketbis’ caché in Latin America, Europe and Asia Pacific, StubHub aims to become the global ticket marketplace leader, in line with its vision summarised in its catchy marketing tagline: “helping fans find fun.”
Ticketbis is a shortlisted company in the High Potential Business Awards with reason. Founded in 2009, the business grew from a passion project to a multimillion-Pound business witih a strong presence in the UK.
According to Ander Micehelena, co-founder of Ticketbis, StubHub’s extensive assets will add value for its existing customer base as the company continues its expansion into emerging markets. “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,” he commented.
The acquisition of Ticketbis is not expected to impact the second quarter 2016 or full year 2016 guidance that eBay provided most recently in its first quarter 2016 earnings announcement.