{"id":361179,"date":"2021-11-02T01:32:44","date_gmt":"2021-11-01T22:32:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tinder-founder-deleted-emails-during-battle-with-barry-dillers-iac-docs\/"},"modified":"2021-11-02T01:32:44","modified_gmt":"2021-11-01T22:32:44","slug":"tinder-founder-deleted-emails-during-battle-with-barry-dillers-iac-docs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tinder-founder-deleted-emails-during-battle-with-barry-dillers-iac-docs\/","title":{"rendered":"#Tinder founder deleted emails during battle with Barry Diller\u2019s IAC: docs"},"content":{"rendered":"<p>&#8220;<strong>#Tinder founder deleted emails during battle with Barry Diller\u2019s IAC: docs<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Tinder\u2019s controversial co-founder deleted a trove of work emails even as he vowed to \u201cdestroy\u201d the executive who succeeded him as CEO as they feuded over the hookup <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>\u2019s sale to Barry Diller\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> empire, court papers show.\u00a0<\/p>\n<p>Sean Rad \u2014 who is demanding a staggering $2 billion in a lawsuit against Diller\u2019s company IAC, alleging he was duped about Tinder\u2019s true market value when he sold his stake \u2014 deleted a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of emails on his company account amid a feud with his successor, Greg Blatt, over the valuation of Tinder, according to legal documents.<\/p>\n<p>In an April 2017 text exchange between Rad and Shiva Kumar, who was an investment banker at Jefferies working as Rad\u2019s financial adviser, Kumar wrote, \u201cSean \u2014 just confirming that you are going to delete all your work emails. Assume this is your personal phone.\u201d<\/p>\n<p>\u201cYes,\u201d replied Rad. \u201cAnd yes.\u201d<\/p>\n<p>The same day, court papers show that Rad sent an email to another Jefferies banker pledging to \u201cdestroy\u201d Blatt, who led Tinder during the valuation process. He then deleted the email, which could only be recovered because Jefferies retained a copy, according to attorneys for IAC and Match Group.\u00a0<\/p>\n<p>\u201cWe\u2019re at war,\u201d wrote Rad. \u201cWe\u2019ll destroy him. This is going to be the biggest lesson of his life.\u201d\u00a0<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-11-1.jpg?quality=90&amp;strip=all&amp;w=791\" alt=\"Sean Rad Tinder Match IAC suit\" class=\"wp-image-19996664\" width=\"313\" height=\"401\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-11-1.jpg?quality=90&amp;strip=all&amp;w=620 626w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-11-1.jpg?quality=90&amp;strip=all&amp;w=465 469w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-11-1.jpg?quality=90&amp;strip=all&amp;w=310 313w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-11-1.jpg?quality=90&amp;strip=all&amp;w=155 156w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-11-1.jpg?quality=90&amp;strip=all 1024w\" sizes=\"auto, (max-width: 313px) 100vw, 313px\"\/><figcaption>Sean Rad told his financial advisor that he deleted work emails, according to texts made public as part of his lawsuit.<\/figcaption><figcaption><span class=\"credit\">aschwarz<\/span><\/figcaption><\/figure>\n<\/div>\n<p>Rad also asked a Tinder engineer how long deleted emails could be recovered from company servers, according to Slack messages exposed in court proceedings.\u00a0<\/p>\n<p>The court documents were made public as part of a suit filed by Rad and other Tinder co-founders against Diller\u2019s companies IAC and Match Group.<strong> <\/strong>Rad and the co-founders say they were swindled out of billions of dollars when the companies absorbed Tinder in 2017.<\/p>\n<p>During the acquisition, which came years after Rad and other co-founders created Tinder as part of an IAC incubator, the founders were paid based on a Tinder valuation of $3 billion \u2014 an unfairly low price based on bogus \u201cdoom-and gloom numbers\u201d that Diller\u2019s companies shared with investment bankers, according to Rad and the co-founders. <\/p>\n<p>They\u2019re facing off in a New York state Supreme Court jury trial, with opening arguments set to kick off on Nov. 8. Diller, Rad and Blatt are all expected to testify in an online trial likely to last for several weeks.\u00a0<\/p>\n<p>Rad\u2019s camp has said that he backed up the emails that were deleted from his work account. They\u2019ve also argued that Jefferies had intended to send the since-deleted emails to Rad\u2019s personal account and that deleting them was necessary because Match executives including Blatt were spying on him throughout the valuation process \u2014 a claim that\u2019s backed up by an internal email in which Blatt said, \u201cLet\u2019s pull all their emails from the whole cabal.\u201d\u00a0<\/p>\n<p>But Joel Cohen, the judge overseeing the case, nonetheless said in an October hearing that Rad had a legal \u201cduty to preserve\u201d the emails and that, while the Jefferies emails were recovered, it\u2019s difficult to know whether other emails are missing.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-02.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Greg Blatt Tinder IAC\" class=\"wp-image-19994966\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-02.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-02.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-02.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Greg Blatt (pictured), who succeeded Sean Rad as CEO of Tinder, spied on Rad during Tinder\u2019s valuation process, according to an internal email made public as part of the suit.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cThe deleted emails are, as you probably can tell, the most troubling to me,\u201d said Cohen in an October hearing. \u201cIt\u2019s clear that not all of them were backed up or something happened where there\u2019s a gap in the evidence as to where things stand and there\u2019s really no way to prove one way or the other whether all the emails have been retrieved.\u201d\u00a0<\/p>\n<p>Cohen has also asked Match to investigate whether the company preserved Rad\u2019s emails for any other unrelated litigation in order to establish whether any of Rad\u2019s emails are actually missing.   <\/p>\n<p>Rad\u2019s camp has dismissed the email question as a \u201cred herring\u201d designed to distract from their primary claim: Diller\u2019s media empire cooked the books to give Tinder a $3 billion valuation when it should have been worth far more, cheating Rad and his co-founders out of billions, according to Rad\u2019s claim.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-07-1.jpg?quality=90&amp;strip=all&amp;w=682\" alt=\"Barry Diller IAC Tinder\" class=\"wp-image-19994043\" width=\"319\" height=\"476\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-07-1.jpg?quality=90&amp;strip=all&amp;w=635 638w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-07-1.jpg?quality=90&amp;strip=all&amp;w=476 478w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-07-1.jpg?quality=90&amp;strip=all&amp;w=317 319w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-07-1.jpg?quality=90&amp;strip=all&amp;w=159 159w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-07-1.jpg?quality=90&amp;strip=all 1024w\" sizes=\"auto, (max-width: 319px) 100vw, 319px\"\/><figcaption>Rad wants Barry Diller\u2019s Match Group to pay $2 billion in damages.<\/figcaption><figcaption><span class=\"credit\">Getty Images For The Met Museum\/Vogue<\/span><\/figcaption><\/figure>\n<\/div>\n<p>As evidence, Rad\u2019s camp has pointed to a 2016 recruiting deck that Blatt shared with a potential hire. The deck, which was shared the year before IAC and Match ultimately valued Tinder at $3 billion, included estimates that Tinder could be valued at $7 billion to $12 billion.<\/p>\n<p>\u201cBaseless attacks on Sean Rad\u2019s character won\u2019t change the fact that IAC and Match lied to the banks in 2017 and will soon be held accountable for their multi-billion dollar swindle,\u201d said Orin Snyder, an attorney for Rad, in a scathing statement to The Post. \u201cNext week a jury will finally see the overwhelming evidence of how IAC and Match cheated Tinder\u2019s founders and employees out of more than $2 billion by corrupting the valuation of Tinder.\u201d <\/p>\n<p>The trial will mark the culmination of years of nastiness between Rad and Diller\u2019s companies. While still working for Diller, Rad once drew Diller\u2019s initials \u2014 \u201cBD\u201d \u2014 in the shape of a penis in a text message to then-Tinder executive Whitney Wolfe, who later went on to found Bumble. <\/p>\n<p>The penis put-down was made public in 2014 as part of a suit Wolfe filed against Tinder and IAC, alleging that Tinder co-founder Justin Mateen sexually harassed her. That case was later settled with no admission of wrongdoing. <\/p>\n<p>Shyam Patil, an internet analyst with Susquehanna Financial Group, predicts that the trial could be \u201cunpredictable\u201d for Match Group, which was spun out from IAC in 2020 and also owns other dating apps including Hinge, OkCupid and PlentyOfFish. Match may be considering a settlement with Rad, Patil said.\u00a0<\/p>\n<p>\u201cThere is the potential for trial \u2018fireworks\u2019 that could lead to negative headlines for IAC\/MTCH and could cause them to strongly consider a settlement,\u201d Patil wrote in a Monday analyst note. \u201cWe continue to believe this case will end in a settlement before a jury verdict is reached.\u201d\u00a0<\/p>\n<p>If the two groups reached a settlement, Patil estimates that Match would pay Rad and the other co-founders $300 million to $700 million.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-09-1.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Tinder IAC suit\" class=\"wp-image-19996720\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-09-1.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-09-1.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-09-1.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Susquehanna analyst Shyam Patil predicted that Match Group will settle with Rad for $300 million to $700 million.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>Match Group spokesperson Justine Sacco said Patil\u2019s report was \u201cclearly speculative\u201d but did not rule out the prospect of a settlement.\u00a0<\/p>\n<p>\u201cWe are ongoing in litigation and we\u2019re not going to comment on this report,\u201d Sacco said of the analyst note.<\/p>\n<p>Jefferies did not reply to a request for comment.\u00a0\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/11\/01\/tinder-founder-deleted-emails-during-battle-with-barry-dillers-iac-docs\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Tinder founder deleted emails during battle with Barry Diller\u2019s IAC: docs&#8221; Tinder\u2019s controversial co-founder deleted a trove of work emails even as he vowed to \u201cdestroy\u201d the executive who succeeded him as CEO as they feuded over the hookup app\u2019s sale to Barry Diller\u2019s media empire, court papers show.\u00a0 Sean Rad \u2014 who is demanding&#8230;<\/p>\n","protected":false},"author":1,"featured_media":361180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/tinder-valuation-battle-preview-1.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[118325,106812,116722,93139,21087],"class_list":["post-361179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-1-21","tag-barry-diller","tag-match-com","tag-sean-rad","tag-tinder"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/361179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=361179"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/361179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/361180"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=361179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=361179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=361179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}