Tinder co-founder Sean Rad, along with nine other plaintiffs, sued Tinder’s parent company IAC / Match Group earlier this month over alleged devaluation. The case centers on stock options and, ultimately, how much the original team deserved to be compensated for their work on Match’s most profitable app.
The Verge reported last week that a source close to Tinder suggested that although Rad claims Tinder was undervalued in July 2017 at $3 billion, he still exercised his options and ended up receiving more than $94 million and around 816,000 shares of IAC stock. This source took these actions as evidence that Rad didn’t believe in Tinder’s future success. Following the private Tinder valuation, the app was merged into Match Group, and Rad...
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