Connect with us

Hi, what are you looking for?


Science and Technology

Tinder :game solves a formal fight with the founders of Tinder

Tinder : US online dating giant Match Group has agreed to pay Tinder founders $ 441m (£ 331.4m) to settle a legal battle over the value of the dating app.

The founders of Tinder first sued Match and its former owner IAC in August 2018, claiming they had downplayed the app to avoid paying billions of dollars.

When Match and media giant IAC bought the founders in 2017, the company was estimated at $ 3bn.

Advertisement. Scroll to continue reading.

But the founders of Tinder say it cost $ 13bn at the time.

The case has been pending since mid-November in the New York Supreme Court.

Match Group shares fell 2% on news to $ 127.93.

Match Group, which owns, OKCupid, Hinge, Meetic, PlentyOfFish, Ship and OurTime, costs $ 36.6bn today.

The plaintiffs, which includes the top ten current and former employees including Sean Rad, Justin Mateen and Jonathan Badeen, were given stock options on as part of their 2014 compensation.

Advertisement. Scroll to continue reading.

But because Tinder is an independent company, they were not allowed to make money with their stock options and sell stocks in the open market.

Their total amount, equivalent to one-fifth of , can only be sold on Match and IAC on certain days, when the stock options will be announced independently.

Match and IAC paid the plaintiffs $ 600m at the time, equivalent to having a value of $ 3bn.

US Securities and Exchange Commission

The filing of Match Group with the US Securities and Exchange Commission (SEC) on Wednesday announced that the company intends to pay compensation using cash in hand.
Tinder is an online dating and geosocial networking application. Users anonymously “swipe right” to like or “swipe left” to dislike other users’ profiles, including their photo, brief history, and list of interests. Tinder uses a “dual login system” where both users have to “swipe right” to match before exchanging messages.

Advertisement. Scroll to continue reading.

Sean Rad founded Tinder in 2012 at a hackathon held earlier in the incubator Hatch Labs in West Hollywood. In 2014, it registered approximately one billion daily switches and reported that users logged into the app on average 11 times a day. In 2015, Tinder was the fifth most expensive mobile app, and in 2019 surpassed Netflix in annual spending. By 2020, Tinder had 6.2 million subscribers and 75 million active users. Since 2021, Tinder has recorded more than 65 billion matches worldwide.


Recognizing the name MatchBox was very similar to Rad, its founders, and early employees renamed the company Tinder. The logo of the company with the fire theme remained unchanged during the renaming process.

2012: Prototype and presentation

During a hackathon in his first month, Rad introduced the concept of a dating app called Matchbox. Rad and engineer Joe Munoz built the MatchBox prototype and launched the “double-entry” dating app on February 16, 2012.

In March, founder Jonathan Badeen (formerly and later Tinder CSO), and Chris Gulczynski (designer and later Tinder CCO) joined Cardify.

In May, while Cardify undertook the Apple App Store authorization process, the team focused on MatchBox.

Advertisement. Scroll to continue reading.

2013: Swipe feature improved

Tinder’s selection function, which was originally based on clicks, has changed to the company’s swipe feature. Badeen then planned an action that followed the temptation in the bathroom mirror.

2014–2016: Growth

In October 2014, users completed more than one billion switches a day, producing the same amount of twelve million per day. During this time, the average Tinder user typically spent about 90 minutes a day on the app.

Rad returned as CEO in August 2015.

2015 Tinder released its “Rewind”, its “Super Like” function, and dropped Tinder’s “Moments” and “Last Active” feature. January 2015 Tinder acquired Chill, developers of Tappy, a mobile messenger using “images and ephemerality”.

Advertisement. Scroll to continue reading.

2016, Tinder was the most popular dating app in the United States, accounting for 25.6% of the market share for monthly users. Third-quarter revenue campaign for the company, Match Group CEO Greg Blatt described Tinder’s popular dating app as a “rocket” and “the future of the business.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Afghanistan Cricket Board (ACB) to carry on its activities as usual, sources told Geo News Thursday.According to the sources, Afghanistan Cricket Board ACB has...


The Crypto Boom SYDNEY, Nov 8 (Reuters) – On Monday. Bitcoin surged near its all-time high. While ether set a new high as cryptocurrencies...


In the event that you’ve known about any digital currency trade, it’s likely Coinbase. Bitcoin early adopters have been purchasing and exchanging coins on...


Priyanka Chopra said “Wishing you so much joy and happiness. You are an absolute vision” Priyanka Chopra wrote “Congratulations @malala” followed by a heart...


KARACHI: Former Australia opener Matthew Hayden says Leadership will be key in the Pakistan Vs India clash in T20 World Cup. A Real Dogfight...


Netflix Games Are Now The Part Of Netflix, Netflix now aims to venture into gaming SAN FRANCISCO: Netflix is confronting a considerable test as...


Pakistan : The President has stopped the practice of talking to the minister Pakistan is using the ‘good offices’ of a prominent Pakistani American...


comedian Umer Sharif passed away in Germany, local media reported today. The artist was traveling to the US for treatment. He was 66. after...