The lawsuit alleged that when Ms. Wolfe Herd brought her concerns to Mr. Rad, he dismissed her as “annoying” and “dramatic.” When she offered to resign with a severance and vesting of her stock, he fired her instead.
As a result, Mr. Mateen was suspended and eventually resigned. Mr. Rad was demoted and later reinstated as chief executive. In late 2016, he left the company. (The current CEO is Elie Seidman, who previously headed OkCupid.) The lawsuit was settled in September 2014.
In December 2014, when Bumble launched in the App Store, its employees included several former Tinder employees — including Christopher Gulczynski, who was Tinder’s chief product officer, and Sarah Mick, Tinder’s vice president of design. Andrey Andreev, the founder of Badoo, another dating website, also came on board.
Tinder’s owner tries to buy Bumble. Bumble declines.
Fast forward a few years.
Last summer, the Match Group — a segment of InterActiveCorp, whose chairman is Barry Diller — offered to purchase Bumble for $450 million, according to the lawsuit filed last month by Bumble. The owners of Bumble declined, arguing that its valuation was much higher.
So Match requested, and was provided, more confidential information about Bumble’s finances and marketing strategy, ostensibly in order to increase its bid. In December, Match made another offer, which, according to Bumble’s claim, “was now many times higher than the $450 million it had initially” put forward. But then the company backtracked and was no longer going to invest.
In February, according to the claim, Match returned to the negotiating table once again. This time its offer was lower than the number it had floated in December. To encourage Match to raise the price, Bumble shared details about other bidders who were expected to make offers in mid-March.