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Google Founders Step Down, Cyber Monday Sales Results, and eBay Sells StubHub

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Google Founders Larry Page and Sergey Brin Step Down

The fathers of the world’s most popular search engine are saying goodbye. Google founders Larry Page and Sergey Brin have announced they are stepping down from their roles as CEO of Alphabet, parent company of Google. Page and Brin founded Google in 1998, and Alphabet was founded in 2015 to ensure Google’s activities remain “cleaner and more accountable.” The pair will be succeeded by Google’s CEO Sundar Pichari. “With Alphabet now well-established, and Google and the Other Bets operating effectively as independent companies, it’s the natural time to simplify our management structure,” said Page and Brin in a joint letter. “We’ve never been ones to hold on to management roles when we think there’s a better way to run the company. And Alphabet and Google no longer need two CEOs and a President.”

What stood out to us?

How can they possibly afford early retirement?

Cyber Monday boxes and sales

Cyber Monday 2019 Sales Hit Record $9.4B

Unsurprisingly, this year’s Cyber Monday was the biggest one yet. Digital Commerce 360 reports that U.S. shoppers spent a record $9.42 billion online during Cyber Monday 2019. This is a 19.7% increase from 2018, making this the largest sales day in the history of U.S. ecommerce. During the five-days between Thanksgiving and Cyber Monday, online sales hit $28.49B, 17.7% higher than last year, with 189.6M U.S. consumers shopping in that time period. Notable is that mobile transactions during Cyber Monday were a staggering $3.1B, the first time consumers exceeded $3B in purchases made through smartphones.

What stood out to us?

A 19.7% increase from 2018.

Concert rocking out for StubHub

eBay to Sell StubHub for $4B

One of the biggest names in ecommerce is ditching one of its biggest assets. eBay is planning on selling StubHub to Swiss ticket vendor Viagogo for $4 billion. StubHub,a ticket exchange and resale platform, sold to eBay for $310M in 2007 by co-founder Eric Baker, who is now the CEO of Viagogo. Baker sold Stubhub back in 2007 due to differing business practices with his partner at the time, but with that partner out of the picture, Baker has decided to purchase the company he founded and expand the selling potential of Viagogo and Stubhub.  “Eric clearly sees strong opportunity for the two businesses,” a spokesperson for StubHub said in a statement. “He founded StubHub 19 years ago and feels so passionately about the business that he organized his people and the financial resources to buy it back. He is all in, which is fantastic for the company going forward.”

What stood out to us?

Death of the ticket scalper.

In the headlines

  • D’oh!: Bedding company Tuft & Needle exposed thousands of shipping labels with sensitive customer information via an unprotected cloud server.
  • Going Once, Going Twice: Consumer brand manufacturer Unilever launched an online auction portal offering excess goods in bulk volumes.
  • Build-A-Booze: Kroger and other retailers are adding custom “build-your-own pack” features when shopping for alcoholic beverages online.
  • EuroTrip:  On-demand manufacturing online marketplace Xometry is going global by entering European markets and working with European manufacturers.  

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