Justin Mateen’s net worth: Justin Mateen is an American entrepreneur with a net worth of $ 300 million. He is best known for being a co-founder of Tinder.
Justin Mateen was born in Beverly Hills, California in March 1986. He comes from an extremely wealthy family of buildings. Justin’s father, Kamyar Mateen, runs Cannon Commercial Inc, which has an extremely valuable portfolio of commercial, retail and multi-unit properties. Kamyar has one of the most precious homes in Beverly Hills.
Justin Mateen is a graduate of the USC Marshall School of Business. He co-founded Tinder as a startup within the Hatch Labs business incubator as a joint venture with Interactive Corp, better known as IAC. In March 2014, IAC increased its majority stake in Tinder to an estimated valuation of $ 1 billion for the first time. A year later, Bank of America estimated the value of Tinder at $ 3 billion. In 2018, the company generated more than $ 800 million in annual revenue.
His former girlfriend Whitney Wolfe Herd was vice president of Tinder and filed a complaint for sexual harassment and discrimination against the parent company of the application. Justin was suspended from Tinder during the investigation of the alleged allegations in 2014. Wolfe Herd then founded the dating app rival Bumble.
Justin and another Tinder co-founder, Sean Rad, sued IAC for $ 2 billion, alleging that the company had undervalued their options in previous funding rounds. They alleged that approximately the first 20 employees who owned 20% of the business had been bought at a valuation of $ 3 billion when IAC knew that the true valuation was closer to $ 5 billion. The trial is still ongoing at the time of writing.
Justin Mateen was put on the Forbes 30 Under 30 list and was named one of the most creative people in business by Fast Company. Outside of Tinder, Mateen was one of the first investors in companies such as Home Chef, Lendup, Munchery, StyleSeat and Hyperloop One.
Immovable: In February 2017, Justin paid $ 15 million for a mansion in the Holmby Hills neighborhood of Los Angeles.
In July 2020, Justin paid $ 18 million for Lori Loughlin and Mossimo Giannulli’s Bel-Air home. Loughlin and Giannulli had sought more than $ 35 million for the home at one time. They bought the property in 2015 for $ 14 million and spent millions of dollars on improvements.