StubHub CEO Eric Baker owns a stake in Andro Capital, a company that lends money to high-volume ticket scalpers operating on StubHub itself. The information came to light through an investigation by CBC News and was confirmed in regulatory documents StubHub filed with the SEC before going public in September 2025.

Ando Capital and its partner company, Colloquy Capital, have financed what CBC describes as bulk scalpers — people and operations that buy large quantities of tickets at their original price and immediately resell them at a higher price. StubHub did not dispute these details when CBC asked about them, instead noting that Baker's involvement with Andro Capital was already disclosed in public SEC filings.

This is a problem because StubHub tells its customers it is a "marketplace for fans." That phrase suggests the company is a neutral platform where regular people buy and sell tickets to each other. But when the CEO himself profits from large-scale ticket scalping operations on the platform, he has a financial reason to let them succeed — even if that makes tickets more expensive for the fans StubHub says it is serving.

Ticket scalpers use software and multiple accounts to buy thousands of tickets when they first go on sale, before regular fans get a chance to buy them. They then resell those tickets at much higher prices. The more money a scalping operation has behind it, the more tickets it can buy. That means fewer tickets are available for individual fans, and prices go up.

StubHub reported $9.2 billion in ticket sales in 2025. That is the total size of the marketplace where Andro Capital and Colloquy Capital operate, though StubHub has not said how much of those sales involved the scalping funds.

StubHub has had other legal problems recently. In April 2026, the company paid $10 million to settle a lawsuit from the Federal Trade Commission, which accused StubHub of deceiving customers with hidden fees in its ticket pricing. The company also canceled thousands of World Cup tickets that customers had bought and paid for, and it is now facing two separate lawsuits from groups of customers over those cancellations.

These problems are not necessarily connected to each other. But together, they paint a picture of a company dealing with questions about whether it treats customers fairly and honestly.

Ticket scalping has been a contentious issue in the industry for about twenty years. But there is something different about this situation. Usually, platforms like StubHub claim they cannot easily prevent or stop scalpers from using their sites. Here, the CEO himself is personally investing in scalping funds. That is a much more direct connection than platforms simply looking the other way.

The real question is whether this arrangement actually hurts StubHub customers. Ticket platforms have always had to balance two competing interests: making money from average fans selling one or two pairs of tickets, and making money from professional scalpers who sell hundreds or thousands of tickets and generate much more fee revenue. StubHub's marketing focuses on the average fan. But the CEO's financial involvement suggests the company also benefits significantly from professional scalpers.

Regulators are already paying close attention. The FTC settlement shows the government is focused on ticket-selling practices. Now they have new information about how the CEO personally profits from high-volume selling on his own platform. Whether this leads to further legal action depends on whether investigators decide this conflict of interest itself is illegal, or whether they see it as a problem that should have been disclosed more clearly to customers.