StubHub Acquired by eBay

eBay announced the acquisition of StubHub, an online marketplace for the resale of event tickets. The purchase will cost eBay approximately $310 million, and will allow the auction site to increase its presence in the realm of online ticketing, while giving StubHub access to eBay's technology and resources. Officials at Michael Arrington gives great insight into how the secondary ticket market actually works: Brokers sell tickets any way they can. They hire scalpers to hang out at events, telling them not to hold too many tickets or cash at any one time in the likely event they are arrested or shaken down by the police. They have their own websites. And they list their tickets on marketplaces like eBay, RazorGator and StubHub. Usually they list the same tickets in multiple places, and if they are sold multiple times they try to find comparable replacement tickets, or just bail on the customer. So, eBay has that stigma to overcome in this whole venture. Nonetheless, the deal should proper eBay to the forefront of the secondary market. Add to Del.icio.us | Digg | Reddit | Furl Joe is a staff writer for latest ebusiness news