Match Group, the dating app conglomerate that owns Tinder, Hinge, and more, had to pay Tinder employees $9.4 million in stock compensation this quarter because of the app’s rapid growth. That large number could have implications beyond the company’s finances: it might be consequential in the $2 billion lawsuit the company faces from Tinder co-founder Sean Rad.
Rad claims Match purposely undervalued Tinder in an effort to avoid paying out billions of dollars in stock to the team’s original employees. The bonuses being given out this quarter suggest Tinder’s valuation grew monumentally over the past couple years.
Alex Heath reported in Cheddar that an independent valuation earlier this year valued Tinder at $10 billion, which would…
from The Verge – All Posts http://bit.ly/2J8hnO3
via IFTTT