Owner Tinder settles with founders for hundreds of millions

Owner Tinder settles with founders for hundreds of millions

Photo: ANP

The current owner of Tinder is going to pay 441 million dollars (390 million euros) to the founders of the dating app. This puts an end to a dispute over the valuation of stock options. This has been the subject of a legal battle in the United States since 2018.

The founders claimed that Match Group, the current owner of Tinder, and its then parent company InterActiveCorp (IAC) underestimated Tinder based on wrong numbers. Match and IAC estimate the app’s worth at $3 billion in 2017, while the company would have been worth more than four times that amount. The founders and their first employees had options on about 20 percent of Tinder’s stock.

Tinder was founded in 2012 and now has more than 10 million paying users. They can scroll through possible romantic matches and then swipe left or right to show their interest.

Match Group has since been completely spun off from IAC. The company also owns dating platforms like Hinge, Meetic, and OkCupid.

Owner Tinder settles with founders for hundreds of millions
Source link Owner Tinder settles with founders for hundreds of millions

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