Tinder Founders, Employees Sue IAC, Match Group Over Options
- Plaintiffs claim they’re responsible for dating app’s success
- They say IAC, Match seek to cheat them of billions of dollars
This article is for subscribers only.
Tinder founders, executives and early employees sued IAC/InterActiveCorp and Match Group Inc. for at least $2 billion, claiming the owners of the dating app are trying to cheat them out of stock options that gave them more than one-fifth of Tinder’s value.
The 10 people suing include co-founder and former Chief Executive Officer Sean Rad and co-founder and former Chief Marketing Officer Justin Mateen. They claim IAC and Match used "false, misleading and incomplete financial information and projections" to create an artificially low valuation of Tinder and avoid paying the group money they’re due under options agreements.