EBay to sell StubHub for $4.5 billion

[ypdc_dennis]

https://www.cbc.ca/news/business/ebay-to-sell-stubhub-viagogo-1.5372084

[silverpinups]

The dismantling of eBay Corp begins.....

[ypdc_dennis]

---

@silverpinups wrote:

The dismantling of eBay Corp begins.....

---

You mean, continues...

PayPal was the first to get hacked off to please shareholders.

This time it was StubHub.

From Variety, March 2019:

"Responding to pressure from activist investors, eBay announced that it has initiated a strategic review of its assets — which may include the sale or spinoff of its StubHub ticket-resale unit.

The ecommerce company also said it is evaluating options for the eBay Classifieds Group. EBay announced the review after activist hedge fund Elliott Management, which acquired more than 4% interest in eBay in January, urged the company to divest StubHub and the classifieds group, arguing in a letter to management that the assets were undervalued. Starboard Value, another activist investor group that holds a 1% stake in eBay, made a similar appeal.

[silverpinups]

PayPal was sold many, many years ago.... They gave CEO Devin Wenig the boot and now their slowly dismantling eBay Corp. I predict that eBay will be sold off in the next 3-4 years.... 

[reallynicestamps]

Skype was sold off, but still remains active.

Paypal was sold off, but still remains active and profitable.

StubHub is under attack by Wall Street who want to make money trading shares, but the company may still exist and be profitable.

We could look at this as eBay becoming what it originally was, a marketplace, without distracting side pieces.

[silverpinups]

"We could look at this as eBay becoming what it originally was, a marketplace, without distracting side pieces".

We'll see if some of the money from selling StubHub is reinvested back into improving eBay...

[cumos55]

From the internet  .......

"StubHub is an online ticket  exchange company, formerly owned by eBay, which provides services for buyers and sellers of tickets for sports, concerts, theater and other live entertainment events"

eBay's focus will still be online selling.... That will not change...

[cumos55]

Who remembers that eBay once owned Skype?

[kawartha-ephemera]

---

@silverpinups wrote:

"We could look at this as eBay becoming what it originally was, a marketplace, without distracting side pieces".

We'll see if some of the money from selling StubHub is reinvested back into improving eBay...

---

Based on past history they'll probably either buy back shares or issue a special dividend. I suppose they could pay down thier long term debt, don't know how they come to be carrying so much of it .... maybe they borrowed to finance aquistions like Stubhub.

The company generates plenty of free cash but currently all they are interested in doing with the funds is to buy back all the shares they can ... crazy, but short term shareholders like the idea.

[lotzofuniquegoodies]

The other purchase that's is in the works right now is Google to buy FitBit. Gives new meaning to that song from years ago...."Somebody's watching you."

-Lotz