Tinder's founders are suing Match Group and IAC saying they've been ripped off - and they're seeking at least $2 billion in damages

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Tinder's founders are suing Match Group and IAC saying they've been ripped off - and they're seeking at least $2 billion in damages

sean rad

Advertising Week Europe

Sean Rad, speaking at Advertising Week Europe in London, 20 April 2016.

A group of early Tinder employees, including cofounders Sean Rad and Jonathan Badeen, announced on Tuesday that they filed a lawsuit against InterActiveCorp and Match Group, the owners of Tinder, a popular dating app.

They're alleging that IAC undervalued Tinder, and used a lowball valuation based on false information to reduce the value of stock options that early employees and founders held.

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Tinder operates on a day-to-day basis independently from IAC and Match, according to the plaintiffs. Business Insider has reached out to Match Group for comment on the lawsuit and its allegations.

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