Dating sites sued dating depew in new york
"The facts are simple: Match Group and the plaintiffs went through a rigorous, contractually-defined valuation process involving two independent global investment banks, and Mr.Rad and his merry band of plaintiffs did not like the outcome," it said. Rad has a rich history of outlandish public statements, and this lawsuit contains just another series of them.The statement said that Rad and other former executives who left the company a year or more ago "may not like the fact that Tinder has experienced enormous success following their respective departures, but sour grapes alone do not a lawsuit make." Tinder's 2017 valuation was set at billion, unchanged from a valuation that had been done two years earlier, despite rapid growth in revenue and subscribers.The suit charges that executives with Match and IAC deliberately manipulated the data given to the banks, overestimating expenses and underestimating potential revenue growth, in order to keep the 2017 valuation artificially low.
IAC defended the valuation process in its statement.
It also includes an allegation of sexual harassment against Tinder's former CEO, Greg Blatt.
IAC issued a statement calling the suit "meritless" and saying it would "vigorously defend" itself against it.
Tinder has helped change the way that people meet by gamifying dating.
Users can swipe left on a potential date's profile if they aren't interested, and swipe right if they are. When it was introduced, the app transformed the online dating experience and paved the way for a number of competitors that iterated on the format.