Match Group reaches new heights, rocky relationships in towBy Danielle Abril
September 14, 2018, 9:03 a.m.
Match Group has been on a hot streak, consistently impressing analysts, beating revenue estimates and sending its stock to new heights. But amid all of its recent success, Match continues to deal with public spats with Austin-based dating app Bumble and the original founders of Tinder, which is part of Match Group's portfolio.
The Tinder founders are suing Match and its parent InterActiveCorp for $2 billion, claiming the company undervalued Tinder, aimed to eliminate the founders' stock options, and delayed a premium offering. The lawsuit included a sexual harassment allegation against its former CEO.
Prior to that, Bumble sued Match for $400 million shortly after Match sued Bumble for patent infringement. Bumble claims Match tried to “poison" Bumble's investment market with its initial lawsuit.
Mandy Ginsberg, CEO of the company, has publicly discussed her plans at the top of the dating goliath. Her approach focused on business expansion, talent, improving safety, and leveraging technology to boost effectiveness and functionality of its apps. Ginsberg, who previously served as the CEO of Match Group Americas, took over the top seat from Greg Blatt in January.
And while she's risen to the challenge of growing the company, how she handles the current disputes will be a new test for Ginsberg.
“This is the test — is it going to take you down or can you manage your way through this crisis and still perform on a business and operational level?" Joseph Ahmad, founding partner of Houston-based Ahmad, Zavitsanos, Anaipakos, Alavi & Mensing PC law firm and a commercial litigator not related to any of the aforementioned lawsuits, told The Dallas Morning News.
Read more about Match Group and its latest successes and squabbles in a story I wrote for The Dallas Morning News.