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Viagogo Acquires StubHub from eBay for $4.05 Billion

27Nov By AdityaNo Comments

ACQUISITION

Viagogo Acquires StubHub from eBay for $4.05 Billion

SAN JOSE, California-- eBay and Viagogo have entered into a definitive agreement for eBay to sell StubHub to Viagogo for a purchase price of $4.05 billion in cash. "We believe this transaction is a great outcome and maximizes long-term value for eBay shareholders," said Scott Schenkel, interim chief executive officer of eBay Inc. "Over the past several months, eBay's leadership team and Board of Directors have been engaged in a thorough review of our current strategies and portfolio, and we concluded that this was the best path forward for both eBay and StubHub. We firmly believe in the StubHub business and we are excited about its future growth potential with viagogo as its owner." viagogo is a leading worldwide ticket marketplace for live sport, music and entertainment events, and...

Spotify Register 1 million users in India in less than a week launch

World’s leading paid music streaming service Spotify register more than 1 million unique users in India across its free and premium tiers in less than a week launch. As we mentioned that Spotify launched in India on Tuesday, stepping into a price-sensitive market crowded by well-funded players such as Reliance Industries’ JioSaavn and Apple’s Apple Music. The Swedish company is offering a free version that will run with ads, alongside a premium ad-free variant that will charge users 119 Indian rupees ($1.68) per month. India, with a population of 1.3 billion and more than 400 million smartphone users, is a potentially huge market for the Swedish company. According to media reports, Tencent-backed Gaana leads the Indian streaming market with over 80 million monthly users. S...

Music Streaming Service Spotify Launching in India Within 6 Months

The popular music streaming service Spotify will reportedly make its India debut in the next six months. The company says that they will offer an extended free trial period when it launches in the country. Spotify currently offers a 30 day trial to all its new customers across the world. This development comes after the Swedish company entered 13 Arab markets, including Saudi Arabia, the United Arab Emirates and Egypt earlier this month. The service is currently available in 78 markets across the world and has 83 million paying subscribers as of June this year. Spotify CEO Daniel Ek had first announced plans to enter the India market in March, just prior to its direct listing on the New York Stock Exchange. Also, Spotify had disclosed in its public offering filing that it has leas...