Scott P. Arroyo 
Mobile dating app company Tinder said Silicon Valley-based venture capital firm Benchmark has taken a stake and its general partner Matt Cohler will join its board of directors.
Released in 2012, the Tinder app connects people to others in their geographic vicinity. A user’s first name, photos, age, and interests show on another user’s phone screen, and Tinder plays Cupid if both users like what they see enough to swipe to. right on their phone, allowing them to talk to each other in a chat window. .
The companies did not disclose the size of the stake, but Re / Code reported that Benchmark had not invested any money. Instead, a small stake will be exchanged for Mr. Cohler’s time and expertise. says the publication.
Mr Cohler was one of Mark Zuckerberg’s main lieutenants on Facebook Inc.
FB -1.15%
before joining Benchmark in 2008. He was also one of the founding employees of LinkedIn Corp.
“Benchmark brings Tinder an unparalleled experience in the mainstream internet space,†said Sean Rad, co-founder and CEO of Tinder. I am excited about the contributions my longtime mentor Matt and the Benchmark team can make to our continued growth.
Tinder is part of the Match Group, which itself is a unit of IAC / Interactive Corp.
Analysts have speculated that IAC may part ways with its Match Group dating business, which also includes Match.com and OkCupid. This faster growing deal is expected to trade at a higher multiple than the rest of the IAC, especially as it begins to monetize Tinder, which is a free service, through a combination of ads and payments. optional for additional functionality.
IAC is expected to release its financial results Wednesday morning.
Write to Lauren Pollock at [email protected]
Copyright © 2021 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
.jpeg)
