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Tinder's value at the time was set at billion, unchanged from a valuation that had been done two years earlier, despite rapid growth in revenue and subscribers. The suit charges that executives with Match and IAC deliberately manipulated the data given to the banks, overestimating expenses and underestimating potential revenue growth, in order to keep the 2017 valuation artificially low. That manipulation allegedly deprived some early Tinder employees of millions, or billions, of dollars."They lied about the financial performance. They manipulated financial data, and essentially stole billions of dollars by not paying us what they contractually owe us," Rad said in an interview with CNN. "We're here to preserve our rights and to fight for what's right, for what was promised us."The suit does not offer an alternative valuation, and when asked by CNN, Rad refused to give an estimate other than to say it was "multiples" of the billion figure.The suit seeks at least billion in damages, and according to the suit the plaintiffs' options accounted for more than 20% of the company. That would suggest the plaintiffs are alleging that Tinder was undervalued by at least billion, putting its total value at about billion.But Match Group, which is publicly traded and includes Tinder along with other dating apps, has a market cap of only about .5 billion. IAC overall, which is controlled by media magnate Barry Diller and which also includes brands such as Angie's List and The Daily Beast in addition to the services that make up Match, has a market cap of about billion. The price of both stocks slumped immediately after the suit was filed.Tinder's success is driving much of that value. Last week, shares of Match shot up 17 percent in a single day and shares of IAC jumped nearly 8 percent after Match reported huge gains from Tinder. Revenue from Tinder alone was up 136 percent over the last year, coupled with an 81% increase in the number of subscribers. On an investor call about the earnings report, Match's CFO told investors it now expects Tinder to generate 0 million in revenue this year, which he called a "phenomenal achievement." The suit says that is 75 percent higher than the 2018 estimate used in the 2017 valuation. 2277
They tweeted out the statement, saying it's extra motivation not to end up in jail, with a GIF of popular character Eleven eating Eggo Waffles. 148
This month's storms came roughly four months after the island filed for bankruptcy protection -- no longer able to pay its 3 billion in pension obligations and bond debt. That roughly comes out to ,000 owed for each of the island's 3.4 million citizens. 269
This would be obviously only for people who were very adept at handling a gun, and it would be, it's called concealed carry, where a teacher would have a concealed gun on them. They'd go for special training and they would be there and you would no longer have a gun-free zone, Trump said. 289
This week, West became associated with a campaign led by conservative activist Candace Owens that encourages black voters to leave the Democratic Party. 152