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Tinder Founder Says 2014 Deal Driven by IAC, Match Distrust (1)

Nov. 10, 2021, 10:10 PM

Tinder founder Sean Rad said he knew IAC/Interactive Corp. and Match Group Inc. might try to cheat the dating app’s employees soon after its 2012 launch.

Taking the stand in his suit against IAC and Match, Rad said he negotiated new options in 2014 granting him and other early Tinder employees and executives options for more than 20% of the company. Rad, who famously started Tinder during a hackathon at IAC’s Hatch Labs incubator, said he sought the new deal because he didn’t trust its owners to fairly value the app, which was then exploding in popularity.

“We wanted a ...