Sean Rad Discusses IAC Lawsuit on Yahoo Finance

Sean Rad has been interviewed by Yahoo Finance on his ongoing lawsuit against IAC and Match Group.

The former Tinder CEO is alleging the companies violated the contracts of early employees and deliberately undervalued the dating app to avoid paying out large sums to the founders.

Last week, IAC’s bid to dismiss the accusations failed meaning the case will soon go to court. Rad said he is looking forward to presenting “strong and damning evidence” and is “excited to get paid”.

He also responded to claims that the plaintiffs had already been paid fairly because the majority of Tinder’s value was unlocked after they left the project. According to the founder, plans for the app’s progress were already clearly laid out at the valuation event and every new feature that has launched had been planned for “years”.

IAC has argued that Rad paid large sums of money to his fellow plaintiffs for their testimony and allegiance.

Rad told Yahoo Finance: “This is what big companies do when they know they’re guilty. They’ve done everything they can do to distract from the facts of the case, it’s so ridiculous.

“We’re individuals, we can’t afford to sue a multi-billion conglomerate so there are financiers who reviewed our case. They are in the business of providing financing to pay for legal bills for us to go and fight this case.”

After spending months reviewing the lawsuit, the financiers decided to invest in it, which Rad believes serves as proof of its strength.

Match Group is scheduled to release its Q3 earnings report at the close of play today, with a conference call with investors to take place tomorrow morning.

Watch the full interview here.