Yahoo Finance Tinder Owner Adds Two Board Directors After Talks With Elliott
(Bloomberg) -- Match Group Inc., the owner of dating apps Tinder and Hinge, named two directors to its board following discussions with activist investor Elliott Investment Management.
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The two — Instacart Chief Marketing Officer Laura Jones and Spencer Rascoff, who was co-founder of online property listings company Zillow Group Inc. — will join the board immediately, the company said in a statement Monday. Jones previously was an executive at Uber Technologies Inc. and Google, while Rascoff served as Zillow’s chief executive officer for 10 years.
Match said it’s also signed an information-sharing agreement with Elliott, the hedge fund run by billionaire Paul Singer, “to facilitate ongoing collaboration toward the board’s goal of driving sustainable value for all shareholders.” The company plans to update shareholders on its strategy at an upcoming investor day.
Chairman Tom McInerney said in a statement that Match has engaged constructively with Elliott and appreciates the investment firm’s feedback. Elliott Partner Marc Steinberg said the board additions will help support the company through its next phase of growth.
“We are one of the largest investors of Match Group today because we believe in its opportunity for significant value creation as the global leader in online dating,” Steinberg said in a statement. “We appreciate the collaboration with management and the board over the past several months.”
Read more: Match Group Is Said to Attract Second Activist Anson Funds
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