The founders of Tinder are going to receive $441m from Match Group. Because the US online dating giant has agreed to pay this amount to settle a legal battle. The dating app Tinder’s founders first sued Match’s former owner in 2018. The case was on trial at the New York Supreme Court.

Credit: time

Tinder claimed that Match had undervalued the app. They also claimed that Match was trying to avoid paying billions of dollars to them. The dating app was valued at $3bn in 2017 when Match and media giant IAC bought the firm. Later Tinder’s founders claimed that the firm was worth $13bn. After this incident, Match Group’s shares dropped 2% which was threatening for the company.

Credit: nypost

The plaintiffs offered Tinder stock options as part of their compensation. But Tinder is a private company and they are not allowed to cash in their stock or sell shares on the open market.

Credit: apkdone

However, Match and IAC claimed that Tinder was worth more than $3bn when it was valued in 2017. Their lawyers argue that Mr. Rad was suffering from “seller’s remorse”. Now match Group has declared the firm intends to pay the settlement using cash on hand.