Tinder co-founders sue parent companies for USD 2 billion

“Through deception, bullying and outright lies, IAC/Match stole billions of dollars from the Tinder employees, who include founders Sean Rad, Justin Mateen and Jonathan Badeen, and three current senior executives,” said a statement. The lawsuit, filed in NYC Supreme Court, added there were written contracts between IAC and the employees for Tinder to be valued on dates in 2017, 2018, 2020 and 2021 when they would be given the chance to exercise stock options and sell them to IAC or Match Group.

“IAC/Match manufactured a fake Tinder valuation of $3 bn – the very same valuation they had assigned to Tinder two years earlier, despite its revenues having grown 600% and user base grown 50%.  “IAC/Match secretly merged Tinder out of corporate existence and into Match Group – diluting Tinder into a stagnant holding company,” it added.