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Activist Investor Starboard Acquires 6.5% Stake in Match Group; Shares Jump 11%

Jul 15, 2024, 11:24 PM

Match Group, the parent company of popular dating apps Tinder and Hinge, has attracted the attention of activist investor Starboard Value. The hedge fund has built a stake of more than 6.5% in the company and is pushing for a possible sale if a turnaround in growth, profitability, and spending is not achieved. Shares of Match Group surged by as much as 11% following the news. Additionally, Elliott Management is also involved, and Match shares jumped over 8% after hours.