IAC Sues Tinder Co-Founder Sean Rad, Seeks $250 Million In Damages
- Wednesday, February 06 2019 @ 12:05 pm
- Contributed by: ElyseRomano
- Views: 768
The online dating wars just got uglier. Match Group and its owner, IAC/InterActiveCorp, have filed a lawsuit accusing Tinder co-founder and former CEO Sean Rad of stealing company files and other proprietary information. The lawsuit claims at least $250 million in damages.
The last few years have been tumultuous for Rad and Tinder. After Whitney Wolfe Herd, a fellow co-founder of Tinder, filed a sexual harassment lawsuit against the company in 2014, Rad stepped down as CEO. Herd went on to found Bumble. Rad returned as CEO of Tinder six months after vacating the position. He stepped aside as CEO for good to become Tinder's chairman in 2016.
In August 2018, a group of current and former Tinder employees, including Rad, filed a lawsuit against IAC. The suit alleges that IAC intentionally undervalued Tinder to reduce the value of stock options held by early employees and founders. “Through deception, bullying, and outright lies, IAC/Match stole billions of dollars from the Tinder employees,” the lawsuit reads. “IAC/Match cooked the books to manufacture a fake lowball valuation of Tinder.” The plaintiffs are seeking at least $2 billion in damages.


