Tinder Parent Match Group Soars Nearly 9% In After-Hours Trading As Activist Hedge Fund Starboard Value, Led By Jeffrey Smith, Reportedly Acquires Over 6.5% Stake Amid Calls For Policy Changes
The activist hedge fund Starboard Value which was founded in 2002 by Jeffrey Smith and Mark Mitchell with Smith serving as CEO has acquired a substantial stake in Match Group Inc, the parent company of Tinder. The fund is urging Match Group to enhance its margins or consider a sale if the proposed changes do not yield the desired results.