Match Group Disputes Claim It Intentionally Undervalued Tinder
- Friday, October 26 2018 @ 12:37 pm
- Contributed by: ElyseRomano
- Views: 874
There’s no sign of a slowdown in the legal battle between Tinder co-founder Sean Rad and Tinder’s parent company, IAC/Match Group.
In August, Rad and nine other plaintiffs sued IAC over alleged devaluation. Rad claims the company undervalued Tinder in July 2017 at $3 billion to prevent him from accessing the full value of his stock options. The suit alleges that IAC created “a false picture of Tinder’s financial condition and prospects” resulting in “bogus numbers” and that “through deception, bullying, and outright lies, IAC/Match stole billions of dollars from the Tinder employees.”
IAC is now fighting back with a motion to dismiss the lawsuit, filed on October 9, which claims that Rad “fully participated in the valuation process” of Tinder and shares responsibility for the company being undervalued. Though IAC failed to accurately predict Tinder’s success over the past year, the motion argues, Rad also failed.




