StubHub Disclosed the Relationship. It Never Disclosed the Rate.
AUTHOR: Michael Fischman|TIMESTAMP: JUL 16, 2026
The Filing Itself
The Investigation and the Lawsuit
- CBC News, Baker's ownership of Andro Capital and StubHub's deal with Colloquy Capital.
- CBC News, the proposed $5 million class action alleging deceptive practices.
- Music Business Worldwide, the complaint's claim that StubHub earned fees from Andro's sales and the $1.6 million payment.
- TicketNews, filings on Andro as a seller since 2008, the $1.6 million side agreement and cost coverage.
The Numbers
- Digital Music News, Andro generating more than $5 million in proceeds since 2022 per the pre IPO filings.
- E. A. Quay & Co., the $0 fee revenue from Andro in 2024 and the related party analysis. Note this firm publishes a bearish view on the stock.
- Johnson Fistel investor notice, Colloquy's security interest in seller proceeds at $9.2 million as of March 31, 2026 and $7.9 million as of December 31, 2025.
- Gizmodo, Colloquy's claims rising from $100,000 at the end of 2024 to $4.8 million by June 2025.
- TickPick, StubHub's seller commission structure and legacy broker rates. Note TickPick is a StubHub competitor.
Ownership and Control
Feature Quote
- Charlie Munger, on incentives.