THE VERGE - Aug 27 - Tinder co-founder Sean Rad, along with nine other plaintiffs, sued IAC / Match Group earlier this month over alleged devaluation. The case centers on stock options and how much the original team deserved to be compensated for their work on Tinder. A source close to Tinder suggested that although Rad claims Tinder was undervalued in July 2017 at $3B, he still exercised his options and ended up receiving ~$94M and ~816K from IAC stock. This source took these actions as evidence that Rad didn't believe in Tinder's future success. Rad says he was forced to exercise his options in August 2017, before he was fired from Tinder in September. He had to exercise them, he says, because they would expire after his dismissal from the company.
by Ashley Carman
See full article at The Verge
See all posts on Match Group
See all posts on Tinder
Summarized by the IDEA team
Comments