Wednesday, January 10, 2007

EBay-StubHub Deal a Boon to Start-Ups -

"EBay Inc.'s purchase of ticket-reselling Web site StubHub Inc. is the latest sign of how a wave of scrappy new Web start-ups is thriving even as some onetime Internet highfliers see their growth slowing.
The online auctioneer announced late yesterday that it has agreed to acquire closely held StubHub for approximately $310 million. The deal, subject to approval from regulators and StubHub stockholders, is expected to close in the first quarter.

StubHub, San Francisco, acts as a middleman between people who have tickets to sports contests, concerts, plays and other events and those who want to buy. It was founded in 2000 by Jeff Fluhr, now 32 years old, and Eric Baker, 33, classmates at Stanford University's Graduate School of Business."

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