Tinder parent Match surges on report of activist interest from Starboard
Starboard built an over 6.5% stake in the firm, the WSJ report said, joining at least two other activist investors in Match, including Elliott Investment Management.
Starboard plans to call on Match to improve dating app Tinder, which accounts for over half of the firm's total revenue. The fund also sees opportunities in Hinge and other emerging apps, through cost-cutting and product development. Match Group, based in Dallas, owns Tinder, Hinge, OkCupid, and Plenty of Fish. It is much bigger than direct competitors like Bumble and Grindr in market value.
Elliott Management had acquired a significant stake in Match earlier in 2024, adding two new board members and also entering an information-sharing agreement with Match.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Activist Starboard builds over 6.5% stake in Tinder owner Match, WSJ reportsActivist Starboard builds over 6.5% stake in Tinder owner Match, WSJ reports
Read more »
Activist investor Starboard says it's acquired 6.5% stake in Match GroupStarboard Value wrote a letter to Match and its board on Monday, urging the company to focus on product innovation and margin improvement.
Read more »
Activist investor Starboard says it's acquired 6.5% stake in Match GroupStarboard Value wrote a letter to Match and its board on Monday, urging the company to focus on product innovation and margin improvement.
Read more »
Starboard Value buys $500M stake in Autodesk, urges operational changesStarboard Value buys $500M stake in Autodesk, urges operational changes - WSJ
Read more »
Activist Starboard amasses Autodesk stake, weighs suit over delayed probe disclosureAutodesk has been under deep scrutiny over an accounting scandal that led to the resignation of its CFO over potentially inflated financial metrics.
Read more »
Activist Starboard sues Autodesk in bid to mount proxy fightAfter disclosing a $500 million stake in Autodesk, Starboard is suing the software vendor to delay its annual shareholder meeting.
Read more »