Believes Match is a Growing, High-Quality Market Leader with an Enviable Position in the Expanding Online Dating Market
Lays Out Initiatives for Improving Growth, Profitability, and Capital Allocation Following Long-Term Share Price Underperformance
Outlines Opportunity for Match to Generate $5.50+ of Free Cash Flow Per Share in 2026 and Create Significant Shareholder Value, But Urges the Board to Remain Open to Strategic Alternatives if a Turnaround Proves Challenging
Starboard Value LP (together with its affiliates, “Starboard”), which holds approximately 6.6% of the outstanding common shares of Match Group, Inc. (NASDAQ: MTCH) (“Match” or the “Company”), today announced it sent a letter to the Company’s Chief Executive Officer, President & Chief Financial Officer, and Board of Directors regarding actionable opportunities for enhancing shareholder value. In addition, the letter lays out Starboard’s view that Match should explore a sale in the event the Company’s leadership is unable to execute on the prescribed value-enhancing initiatives.
The letter can be accessed at https://www.starboardvalue.com/presentations.
About Starboard Value LP
Starboard Value LP is an investment adviser with a focused and differentiated fundamental approach to investing in publicly traded companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240716279903/en/
Contacts
Investor Contacts:
Peter Feld, (212) 201-4878
Gavin Molinelli, (212) 201-4828
www.starboardvalue.com
Media Contacts:
Longacre Square Partners
Greg Marose / Charlotte Kiaie, (646) 386-0091
starboard@longacresquare.com
