Match and Tinder Settle a Valuation Battle For $441 Million
Match Group Inc. said it will pay $441 million to resolve a hard-fought legal battle with Tinder’s founders over the valuation of the mobile dating app, ending a nearly month-long trial just before it went to the jury.
Match announced the settlement on Wednesday morning, a day before the parties were to give closing statements in the trial over a lawsuit brought by Tinder founder Sean Rad and other early executives and employees against Match and its controlling investor, IAC/Interactive Corp.
Rad, who created Tinder during a hackathon at IAC’s Hatch Labs incubator, and the other plaintiffs in the case say they were cheated by the companies, which valued Tinder at $3 billion in 2017, instead of the $13.2 billion they claim it was actually worth.
