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Tinder founders sue parent companies Match and IAC for at least $2B

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Re: Tinder founders sue parent companies Match and IAC for at least $2B

#71

Post by PhasmaFelis »

TAForObvReasons wrote: post #44
JohnJamesRambo wrote: post #37

Earlier quoted context omitted.

I doubt he gets re-elected, so I would put forth the assertion that being non-civil and acting like a jackass doesn't work long term. People get a good look at it and it isn't appealing when they can see it for what it is.

He will be re-elected. Despite everything that was known before the election, he was elected. And he delivered on the major promises to his core supporters (Supreme Court, tax cuts, hard on immigration, rolling back regulations, etc). Uber is a great tech example of the same phenomenon. Many people on HN who rail about Uber's dubious business practices still use their services because it's convenient or because it is…

Depends on who the Dems run against him. But remember that Trump lost the popular vote by 3 million voters, and that even though a lot of left-wingers stayed home in protest of the Clinton-Sanders thing, and so far he's done a wonderful job of galvanizing fence-sitters against him.

Re: Tinder founders sue parent companies Match and IAC for at least $2B

#72

Post by jonknee »

bogomipz wrote: post #43
DeonPenny wrote: post #35

Earlier quoted context omitted.

No it was an internal startup made from Match.

Why did a dating site launch a dating app as a separate startup? What was the logic there?

That's part of the IAC culture, they have a lot of companies/brands under their belt: Match, Angie's List, Ask, College Humor, dictionary.com, OkCupid, Plenty of Fish, Vimeo, Daily Beast, etc etc.

http://www.iac.com/brands

Re: Tinder founders sue parent companies Match and IAC for at least $2B

#73

Post by PhasmaFelis »

eberkund wrote: post #17
nlh wrote: post #7

Random semi-tangential question: It seems that when companies/PR people/lawyers respond to lawsuits, they always use some version of this EXACT phrase: "The allegations in the complaint are meritless, and ____ intends to vigorously defend against them." Responses almost always use the word "meritless" (or "baseless") and almost always describe their forthcoming response to be "vigorous". Is there a legal reason why t…

Because when people hear a word they like, they like to try and use it every chance they get. They want to show off their large vocabulary. I remember thinking something similar when the election cycle rolls around and every pundit and news anchor is talking about how an issue "resonates" with voters. An otherwise rarely used word that becomes used to describe something specific becomes almost like a brand name.

Or because it's a carefully-chosen legalism that appears to say "I am innocent" while actually only saying "the case against me will fail."

Re: Tinder founders sue parent companies Match and IAC for at least $2B

#74

Post by megaremote »

bogomipz wrote: post #43
DeonPenny wrote: post #35

Earlier quoted context omitted.

No it was an internal startup made from Match.

Why did a dating site launch a dating app as a separate startup? What was the logic there?

Are you kidding? The same reason Mars produces different chocolate bars. The same reason facebook owns mutliple social networks. The same reason Apple produces multiple phones.

Re: Tinder founders sue parent companies Match and IAC for at least $2B

#75

Post by neffy »

s73v3r_ wrote: post #42
JohnJamesRambo wrote: post #37

Earlier quoted context omitted.

I doubt he gets re-elected, so I would put forth the assertion that being non-civil and acting like a jackass doesn't work long term. People get a good look at it and it isn't appealing when they can see it for what it is.

It got him elected to start.

No, the Russians got him elected to start.

Re: Tinder founders sue parent companies Match and IAC for at least $2B

#76

Post by dragonwriter »

neffy wrote: post #75
s73v3r_ wrote: post #42

Earlier quoted context omitted.

It got him elected to start.

No, the Russians got him elected to start.

Well, and the DNC by choosing the by-the-numbers weakest major party candidate in the history of polling (with slower negatives than Trump, sure, but much more committed negatives.)

Russian interference couldn't have tipped the balance (assuming it even did) if it hadn't been within range in the first place.

Re: Tinder founders sue parent companies Match and IAC for at least $2B

#77

Post by subdane »

JumpCrisscross wrote: post #2

> The suit alleges that IAC and Match Group manipulated financial data in order to create 'a fake lowball valuation' (to quote the plaintiffs’ press release), then stripped Rad, Mateen, Badeen and others of their stock options Wait, they didn't exercise their options into the sale? Did the founders hire a team of squirrels as their bankers? This is M&A 101 when switching to majority control. EDIT: Ah, Tinder was laun…

Tinder was incubated at Hatch Labs at IAC (not Match, but IAC owned Match) https://techcrunch.com/2011/03/31/exclusive-iac-hatches-hatc...

Re: Tinder founders sue parent companies Match and IAC for at least $2B

#78

Post by [deleted] »

JumpCrisscross wrote: post #2

> The suit alleges that IAC and Match Group manipulated financial data in order to create 'a fake lowball valuation' (to quote the plaintiffs’ press release), then stripped Rad, Mateen, Badeen and others of their stock options Wait, they didn't exercise their options into the sale? Did the founders hire a team of squirrels as their bankers? This is M&A 101 when switching to majority control. EDIT: Ah, Tinder was laun…

[deleted]

Re: Tinder founders sue parent companies Match and IAC for at least $2B

#79

Post by bamorgan »

hello_asdf wrote: post #3

That is a brutal response from Match and IAC. Their statement also mentions that two separate banks were part of the valuation. I'd be curious what their proof is. A couple fun phrases from the statement: > his merry band of plaintiffs > but sour grapes alone do not a lawsuit make

I worked for match group as a C-level executive and had a equity structure that was similar, but on a way smaller scale. They use outside firms and a methodology called baseball arbitration to come up with a FMV. Although I didn't like some of the decisions that impacted the value of my equity, I was always treated fairly.

Re: Tinder founders sue parent companies Match and IAC for at least $2B

#80

Post by fatjokes »

jessaustin wrote: post #59
geofft wrote: post #22

In 2014, former Tinder VP Whitney Wolfe, who previously had a "cofounder" title (and would later go on to found Bumble), sued IAC and Match over sexual harassment from another Tinder "cofounder" Justin Mateen, who is one of the plaintiffs in this lawsuit. (I put "cofounder" in quotation marks because it was an internal project at IAC and the history is a complicated.) Mateen was suspended and the lawsuit was settled…

Match might have to find a model besides "buy the latest popular matchmaking firm"?

IIRC, they own one of the few online dating sites that actually generates a profit: match.com. All of their other properties, particularly Tinder and OkCupid, are basically meant to get younger people hooked so that they will eventually convert to paying for Match.com.
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