Benchmark acquires stake in dating app Tinder


shutterstock_93386452

Benchmark has made an undisclosed investment acquired an equity stake in Los Angeles-based online dating app Tinder, reportedly without spending any money on the deal. As a result of the funding transaction, Benchmark general partner Matt Cohler has been named to the company’s board of directors.

Re/Code reported yesterday Benchmark took an equity stake in the company in exchange for partner Matt Cohler taking a seat on Tinder’s board of directors. IAC announced the transaction in a press release Monday, but only said Benchmark was taking an equity stake in the company, and Cohler was joining the board, without providing details of the arrangement.

Tinder is owned by The Match Group, an IAC subsidiary, which continues to hold a controlling stake in Tinder, Re/Code reported.

This funding The announcement comes on the heels of Benchmark participating in a $70 million Series B round for San Francisco-based education firm Minerva Project. Tal Education Group and ZhenFund also were investors. And, last month, Benchmark led a $12 million Series B round for Duo Security, an authentication solutions provider in Ann Arbor, Michigan. Google Ventures, True Ventures and Radar Partners also participated.

Photo courtesy of Shutterstock

Correction: A previous version of this article said Benchmark had made an investment in Tinder, rather than acquiring an equity stake in the business. The post has been updated. 

Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial! Or subscribe now

Sign up to our Newsletter

Receive updates from our PE HUB Wire and Top Stories of the Week newsletters:

We will not send you spam, and we don't share your email address with 3rd parties.