Is StubHub the Ticket for eBay?
Investors cheered the online auction powerhouse's latest acquisition as it seeks to expand in the lucrative ticket segment
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eBay's (EBAY) CEO Meg Whitman went shopping again and this time she bought the online ticket reseller StubHub.com for a cool $310 million. Investors liked her latest effort to bolster growth at the online auction powerhouse, and bid up eBay stock more than 3% on Jan. 11.
The deal is expected to close in the first three months of the year, pending necessary approvals. Whitman is gunning to strengthen her company's online presence and expand its online tickets offerings, at the same time she gives StubHub the benefit of eBay's resources.