The Match Group: We Underestimated Tinder, But So Did Sean Rad [Fortune]
Match Group, Inc. (MTCH)
Last match group, inc. earnings: 2/4 04:11 pm
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Source: Fortune
The Match Group on Tuesday filed a motion to dismiss a lawsuit accusing it of undervaluing Tinder, saying that the dating app’s co-founder, who is among the former employees bringing the suit, was closely involved in Tinder’s valuation and underestimated its potential revenues. Tinder co-founder Sean Rad and a group of ex-Tinder workers filed the lawsuit in August, alleging that the dating app’s parent company, Match, which is majority owned by IAC, lowballed Tinder’s valuation in July of last year to stop Rad accessing from the full value of his stock options. The group alleges that Match created “a false picture of Tinder’s financial condition and prospects” resulting in “bogus numbers,” or a $3 billion valuation. In Tuesday’s motion, Match and IAC say that Rad was closely involved in determining that $3-billion number. The companies also allege that, as part of the valuation process, the co-founder estimated that Tinder to bring in $500 million in revenue this year—signifi
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News
- Insider Stock Buying Reaches US$1.20m On Match Group [Yahoo! Finance]Yahoo! Finance
- Redstone's Deal Dilemma: Give Paramount Investors a Vote or Not? [Yahoo! Finance]Yahoo! Finance
- Redstone's Deal Dilemma: Give Paramount Investors a Vote or Not? [BNN Bloomberg (Canada)]BNN Bloomberg
- Match Group: We're Swiping Left For Now [Seeking Alpha]Seeking Alpha
- Match Group, Inc. (NASDAQ: MTCH) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating. They now have a $37.00 price target on the stock, down previously from $53.00.MarketBeat
MTCH
Earnings
- 1/30/24 - Beat
MTCH
Sec Filings
- 4/11/24 - Form 144
- 4/2/24 - Form 4
- 4/2/24 - Form 4
- MTCH's page on the SEC website