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Tinder owner to pay founders $441 million to settle valuation lawsuit

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Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="The dating app Tinder is shown on an Apple iPhone in this photo illustration taken February 10, 2016. Just in time for Valentine" s="" a="" survey="" shows="" that="" more="" Americans="" are="" looking="" for="" love="" through="" with="" than="" four="" times="" as="" many="" young="" adults="" using="" mobile="" apps="" in="" Mike="" Reuters="" Illustration="" File="" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2021/reuters/12/02/20211201-reuters-next-tinder.jpg"/><figcaption>The dating app Tinder is shown on an Apple iPhone in this photo illustration taken February 10, 2016. Just in time for Valentine&#x27;s Day, a survey shows that more Americans are looking for love through online dating, with more than four times as many young adults using mobile apps than in 2013. <em>Mike Blake, Reuters/Illustration/File Photo</em></figcaption></figure></div><p>NEW YORK, United States - The company that owns Tinder will pay $441 million to the popular dating app&#x27;s founders to settle a dispute over the valuation of stock options, documents showed Wednesday.</p><p>The suit filed in New York in 2018 contended that Tinder owner Match Group, and its then-parent firm InterActiveCorp, schemed to dramatically drive down the value of stock options and then eliminate them altogether.</p><p>Co-creators Sean Rad, Justin Mateen and Jonathan Badeen alleged Match and IAC relied on bogus figures to arrive at a valuation of $3 billion in 2017 -- when Tinder was actually worth more than four times that. </p><p>Created in 2012, Tinder now has more than 10 million paying users who can quickly scroll through possible romantic matches, and then swipe left or right to signal interest.</p><p>With options on about 20 percent of Tinder&#x27;s stock, the founders and their early employees felt they had been shortchanged by several billion dollars. </p><p>Match will pay $441 million to the 10 Tinder alumni, including the three co-founders, in exchange for them agreeing to end all legal actions, according to a document filed Wednesday with the US Securities and Exchange Commission. </p><p>Listed on the stock exchange in 2015, Match Group was completely spun off from IAC in 2020 and also owns dating platforms like Hinge, Meetic and OkCupid.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/life/11/26/21/myx-teams-up-with-tinder-for-dating-game-show">MYX teams up with Tinder for new season of dating game show</a></li>	<li><a href="https://news.abs-cbn.com/life/01/06/21/couples-who-met-via-dating-app-are-keener-on-settling-down-study-says">Couples who met via dating app are keener on settling down, study says</a></li>	<li><a href="https://news.abs-cbn.com/news/09/02/21/pnp-nagbabala-sa-paggamit-ng-dating-apps">PNP nagbabala sa paggamit ng dating apps</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1750898" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

The company that owns Tinder will pay $441 million to the popular dating app's founders to settle a dispute over the valuation of stock options, documents showed Wednesday.