Match Rises After Starboard Takes Stake in Dating Company
- Starboard to push for sale if Match doesn’t make changes
- Match responds that it’s focused on executing key initiatives
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Starboard Value became the third activist investor this year to take a stake in Match Group Inc., the owner of the dating app Tinder whose paying customer base has shrunk for six straight quarters.
Starboard has built a stake of more than 6.6% in Match, a letter reviewed by Bloomberg News shows. The investor plans to push for a sale of Match if the company fails to turn around its operations, according to the letter.