Elliott Investment Management Acquires $1 Billion Stake in Match Group

The move comes as Match Group's stock performance struggles, despite the company's dominance in the online dating market.

Elliott Investment Management, a powerful hedge fund, has acquired a $1 billion stake in Match Group, the parent company of Tinder and other online dating platforms.
Match Group's stock, which reached all-time highs in 2021 during the Covid-19 pandemic, has since fallen significantly, with its market capitalization now just over $10 billion.
Elliott is expected to engage with Match management to discuss strategies for improving stock performance, though specific demands or plans to nominate board members have not been disclosed.
Despite a 5% year-over-year decline in paying users across all its brands, Match Group's Tinder and Hinge platforms saw direct revenue growth of 11% and 44% respectively in the last quarter.
Match Group's value remains well above its competitors, with Bumble valued at almost $2.7 billion and Grindr at $1.5 billion.