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The US's largest secondary ticketing site has become the world's largest with the buy-out of its main Latin American rival
By Jon Chapple on 24 May 2016
StubHub, which less than two weeks ago announced the launch of its first Spanish-language operation, StubHub.mx, is to expand its reach into the Asia-Pacific region with the acquisition of Ticketbis, a global ticket resale platform with a presence in 47 countries.
Ticketbis, headquartered in Spain but with offices across Europe, the Americas, Asia and Australasia, will be bought by StubHub parent company eBay for an undisclosed sum, creating the world’s largest secondary ticketing operation. Ticketbis is currently market leader in southern Europe and Latin America, while StubHub dominates in the US.
In addition to Mexico, StubHub currently has local websites for the US and Canada (StubHub.com), the UK (StubHub.co.uk) and Germany (StubHub.de).
Ticketbis is currently market leader in southern Europe and Latin America, and the acquisition will create the world’s largest secondary ticketing operation
The acquisition of Ticketbis is, subject to customary closing conditions, expected to close in mid-2016 and will “enable us to significantly scale StubHub’s international footprint,” says Devin Wenig, president and CEO of eBay. “eBay’s global presence will help StubHub acquire new customers as it expands into markets outside of the US. This deal reaffirms our commitment to investing in StubHub and helping fuel its momentum.”
“StubHub’s extensive assets will add tremendous value for ticketing patrons and sellers worldwide, especially as we continue our expansion into nascent markets,” adds Ander Michelena, co-founder of Ticketbis. “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.”
Ticketbis is currently embroiled in a legal dispute with Spanish promoter Doctor Music, which it is suing for libel following a “smear campaign” by Doctor Music as it lodges official complaints against a number of secondary ticketing sites.