Tinder founders sue parent companies Match and IAC for at least $2B
A group of Tinder founders and executives has filed a lawsuit
against parent company Match Group and its controlling shareholder IAC.
The plaintiffs in the suit include Tinder co-founders Sean Rad,
Justin Mateen and Jonathan Badeen — Badeen still works at Tinder, as do
plaintiffs James Kim (the company’s vice president of finance) and
Rosette Pambakian (its vice president of marketing and communications).
We’ve reached out to IAC for comment, as well as Pambakian, who’s
served as our main contact at Tinder. We’ll update the post if we hear
back.
The suit alleges that IAC and Match Group manipulated financial data
in order to create “a fake lowball valuation” (to quote the plaintiffs’
press release), then stripped Rad, Mateen, Badeen and others of their
stock options. It ...
