From Dow Jones & Company:
Elliott Investment Management has acquired a $1 billion stake in Match Group Inc. The investment management company plans to push for changes to boost the performance of the online dating company. Match Group’s growth has slowed sharply, and its paying customers have declined, resulting in a 13% drop in stock value over the last 12 months. Elliott is looking to work with Match to improve its performance, although no specific details have been provided. Match Group owns popular online dating platforms such as Match.com, Tinder, Hinge, and OKCupid. In October, the company reported flat quarterly revenue and a disappointing revenue forecast.
Read more: Activist investor Elliott takes big stake in Match Group, seeks changes: report
