Starboard Value wrote a letter to Match and its board on Monday, urging the company to focus on product innovation and margin improvement.
Jeff Smith's Starboard Value has a more than 6.5% stake in Match Group and is pushing the company to focus on product innovation and margin improvement.
In the letter, Smith wrote that Tinder enjoyed enviable and viral growth for years but has been stymied of late by sluggish innovation. The activist isn't angling towards a management shakeup and indicated that Kim, who previously ran Tinder and before that was president of Zynga, is capable of leading innovation at the company.However, the activist says any turnaround would require margin improvements.
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