Starboard Value LP has built a 6.6% stake in Match Group, Inc. (NasdaqGS:MTCH) and is urging the dating app operator to explore a sale if it is unable to revitalize its business, the activist investor said. Starboard is the third investor after Elliott Investment Management and Anson Funds Management to push for changes this year at Match, which has struggled with a post-pandemic slowdown in growth and delays in new features for key apps such as Tinder. Match has not capitalized on its "enviable market position" and should cut costs and be more aggressive with share buybacks, Starboard's managing member Jeffrey Smith said in a letter late on July 15, 2024.

"If performance fails to improve, we believe changes must be considered, which should include a thoughtful examination of whether Match's best path forward would be as a private company," Smith added. The Wall Street Journal first reported on the Starboard development. Match has tried to turn around its business by rolling out new subscriptions and app updates.

It also named a new CEO for Tinder in January. A spokesperson for Match said on July 16, 2024 it remains focused on Tinder and Hinge and would "look forward to continuing our open dialogue with all of our investors, including Starboard".