Match Will Pay $441 Million to Settle Suit Over Tinder Valuation
- $441 million settlement reached on eve of jury deliberations
- Tinder execs said Match and IAC undervalued app by $10 billion
Photographer: Gaia Squarci/Bloomberg
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Match Group Inc. said it will pay $441 million to resolve a hard-fought legal battle with Tinder’s founders over the valuation of the mobile dating app, ending a nearly monthlong trial just before it went to the jury.
Match announced the settlement on Wednesday morning, a day before the parties were to give closing statements in the trial over a lawsuit brought by Tinder founder Sean Rad and other early executives and employees against Match and its controlling investor, IAC/InterActiveCorp.