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- Match Pays Tinder Co-Founders $441 Million to End Lawsuit
Match Pays Tinder Co-Founders $441 Million to End Lawsuit
Match Pays Tinder Co-Founders $441 Million to End Lawsuit
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Match has settled a lawsuit brought forward by Tinder co-founders who claimed the company cheated them out of billions of dollars' worth of stock options. Tinder's former CEO and dot.LA investor Sean Rad, former CMO Justin Mateen, and others brought the case against Match, seeking $2 billion. Today, they settled for $441 million. Read more >>
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The $441 million lawsuit settlement is a significant sum for Match, which had $523 million in cash and short-term investments on hand as of Sept. 30.
Tinder launched in 2012 out of Hatch Labs, IAC's now defunct incubator. And while the holding company — which buys and flips media and tech firms like Vimeo and Expedia — was also wrapped up in the case, Match took on IAC’s liability when the two split into separate, publicly traded companies last year. That means Match and its shareholders were stuck with footing the bill for the settlement.
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