
Starboard Value has amassed a roughly 6.5% stake in online dating company Match Group
and is pushing the company to either make changes that would improve margins or go private.
Starboard’s Jeff Smith wrote, in a letter on Monday to Match CEO Bernard Kim and its board, that cost cuts and product innovation could drive revenue growth at the company. Smith has been speaking with Match management about its plans, according to the letter, which was viewed by CNBC.
The stock surged 8% in Tuesday morning trading.