We look forward to finally having our day in court.' He cannot unwind that gamble now simply because he regrets it.
'Sean Rad bet against Tinder, and then watched from the sidelines as Match's stock increased. 'We are very pleased that the Court has already dismissed many of the bogus allegations made by Sean Rad and the witnesses who got paid under the litigation funding agreement,' the spokesperson Justine Sacco added. While the chart did say that Tinder could grow if certain conditions were met, those conditions had not been met by 2017, they argue.Ĭontacted by, a spokesperson for Match and IAC would not comment specifically on the emails, but said 'this baseless lawsuit has no more merit today than it did years ago when it was filed.
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. In August of this year, a Morgan Stanley analyst report valued Tinder at $42billion, though the judge has limited what post valuation figures can be shared with the jury. Published: 21:18 GMT, 25 October 2021 | Updated: 14:32 GMT, 26 October 2021īlatt forwarded a chart with those figures to job candidates including Maria Zhang, who left Yahoo to become Tinder's chief technology officer in April 2016, the emails show But lawyers for the company and its corporate parents claim the 'recruiting deck' was based on hypothetical numbers and not the same as a third-party valuation.Attorney Orin Snyder told the judge in a hearing earlier this month that 'they were telling the truth when they were recruiting engineers'.At the time he had projected the company's value to be between $9 and $11.75b and hoped to use that data to lure talent away from other tech companies.In one exchange from January 6, Blatt told a colleague he wanted to create a presentation that would help 'sell prospective execs on the future valuation of Tinder'.The emails were submitted as evidence by former employees, including founder Sean Rad, in the upcoming trial against Tinder and Match Group and IAC.Internal emails seen by reveal Blatt in 2016 estimated Tinder's worth at $12b, far more than the $3b value projected the following year.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.EXCLUSIVE: Former Tinder CEO Greg Blatt had valued the dating app at $12BILLION - which he used to lure talent away from other tech companies - a year before 'intentionally lowballing its worth', internal emails claim
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