Elliott Investment Management, the prominent activist hedge fund firm founded by Paul Singer, has built a roughly $1 bn stake in Match, the parent company of Tinder, Hinge and other dating platforms, according to a report by the Wall Street Journal.
The report cites an unnamed source familiar with the matter as confirming that Elliott, now intend to meet with Match management to discuss ways to improve the online dating company’s performance.
Elliot has yet to confirm its specific demands not or whether it intends to pursue nominating director candidates to the Match board.
Match shares closed at $37.89 on Mondaym after news off Elliott’s interest broke, bringing the company’s market capitalisation to roughly $10bn. In 2021, in the midst of the Covind-19 pandemic and subsequent boom in internet stocks, the company’s market capitalisation was well above $40bn.
