Elliott Investment acquires around $1 billion stake in Tinder owner: report

By Michael Hytha

Elliott Investment Management has built up a roughly $1 billion stake in Match Group Inc., the owner of Tinder, Hinge and other dating platforms, the Wall Street Journal reported.

The activist investor plans to push the online dating company to take steps to boost its stock price, the newspaper reported, citing people familiar with the matter. Elliott’s specific demands, and whether it plans to nominate director candidates, could not be learned, the report said.

“Our team is in regular contact with investors and will continue to work to create great experiences for our users and value for our shareholders,” said a Match Group spokesperson, declining to comment specifically on Elliott.

Shares of Dallas-based Match Group have fallen 10.5% in the past year, leaving its market value at about $10.3 billion.

Competition rival Bumble Inc. has done even worse, with its shares down 28% in the past year. Bumble founder Whitney Wolfe Herd said in November that she was stepping down as CEO.

First print: January 9, 2024 | 11:52 PM IST