StubHub, the ticket marketplace EBay Inc. (EBAY:UN) is selling, has drawn interest from suitors including rival Vivid Seats LLC and buyout firm KKR & Co., according to people familiar with the matter.

Other private equity firms are also weighing a bids for StubHub, which could fetch about US$3 billion, said the people, who asked to not be identified because the matter isn’t public. The sale process has begun in recent weeks, they said. No decision has been made and the suitors may opt to not proceed with offers, they said.

EBay in March announced a strategic review of assets including StubHub and its Classifieds Group in conjunction with a settlement agreement with activist investors Starboard Value and Elliott Management Corp., which had called for the sale or spinoff of those two divisions. EBay hasn’t yet decided if or when to proceed with a sale process for the Classifieds business, the people said.

Representatives for EBay and Vivid Seats declined to comment. A representative for KKR didn’t respond to requests for comment.

Chicago-based Vivid Seats is backed by the private equity firms GTCR and Vista Equity Partners.

EBay fell 1.5 per cent to US$39.68 at 3:15 p.m. in New York trading, giving the San Jose, California-based company a market value of about US$33.3 billion. The shares have risen about 14 per cent in the past year.

StubHub, which lets people buy and sell tickets to concerts and sporting events online, had US$1.1 billion in net transaction revenue in 2018, an increase of 6 per cent from a year earlier, according to EBay’s most recent annual report. EBay bought it for US$310 million in 2007.

Classifieds had about US$1 billion in revenue during that same time period, an increase of 14 per cent from a year before. Classifieds, which operates under brands including Mobile.de, Kijiji and Gumtree, helps people list various products and services, often for free.