Rad and nine other former and current Tinder employees are suing the dating app’s parent companies, claiming they undervalued the brand.
Business Insider covers Rad’s early life growing up in Beverly Hills with his Iranian parents. The article reports that: “He was initially drawn to show business, but a high school internship for an entertainment manager turned him off to the whole industry.”
Justin Mateen, another co-founder, met Rad when the pair were just 14-years-old. Rad describes him as “his best friend”.
They attended the University of Southern California together, but “Rad eventually dropped out two years later to pursue entrepreneurial endeavors.”
Rad launched two internet companies by himself, Orgoo and Adly, before co-founding Tinder in 2012.
After Tinder was launched, he became the CEO and oversaw it being named as the best startup of 2013 by TechCrunch.
He stepped down as CEO in 2014 after Whitney Wolfe accused another co-founder of sexual harassment. However, he returned to the position just six months later. Nowadays, Rad serves as Tinder’s chairman.
Business Insider reports: “Tinder is consistently one of the highest-grossing apps in Apple’s App Store. The company says it has 81% year-over-year subscriber growth, and is on track to exceed $800 million in revenue in 2018.”
Rad told Business Insider in 2017: “There are tens of millions of active users in over 196 countries. We’ve made 20 billion matches since we started.”
The piece concludes by stating: “Rad and his fellow plaintiffs are seeking $2 billion from IAC.”
Read the full article here.