DAILYMAIL.CO.UK - Former Tinder CEO Greg Blatt is accused of intentionally lowballing the dating app's value in order to cheat employees out of billions of dollars in stock options. In 2016, he estimated Tinder's worth at $12B, far more than the $3B value projected the following year, according to internal emails. A group of former employees, including founder Sean Rad, will be using those emails from 2016 in an upcoming trial to try to prove Blatt intentionally lowballed the value in 2017, denying banks information they needed to make an accurate assessment. In August of this year, a Morgan Stanley analyst report valued Tinder at $42B. The defense says the so-called 'recruiting deck' in January 2016 was based on hypothetical numbers and is not at all the same as a third-party valuation. While the chart did say that Tinder could grow if certain conditions were met, those conditions had not been met by 2017, they argue.
by Shawn Cohen
See full article at DailyMail.co.uk
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