Starboard Value
In short: Starboard Value LP is a New York investment adviser known for activist campaigns at listed companies. It became a significant shareholder in Match Group, owner of Tinder and Hinge, in July 2024, publicly urging higher margins, product innovation at Tinder and a possible sale if a turnaround failed. Its involvement matters because it adds investor pressure on the largest dating company.
Key facts
| Type | Investor |
|---|---|
| Headquarters | New York, United States |
| Founded | 2011 |
| Status | Active |
| Website | starboardvalue.com |
| Headquarters | New York, United States; described as a New York-based investment adviser [Huntsman Corp SEC filing (SC 13D/A), 2022] |
| Founded | Founded by Jeffrey Smith in April 2011, after the Value and Opportunity business was spun off from Ramius LLC [Starboard Value LP Form 13F-HR, FY2011, 2011] |
| Leadership | Jeff Smith is Managing Member, Chief Executive Officer and Chief Investment Officer [Jeff Smith biography, Starboard Value] |
| Business description | Investment adviser with a focused, fundamental approach to investing in publicly traded companies, engaging with management and boards to unlock value [Starboard Value Sends Letter to Match Group (Business Wire), 16 July 2024] |
| Match Group stake | Disclosed a stake of about 6.6% in Match Group and sent a public letter to its board urging margin improvement, Tinder innovation and openness to strategic alternatives [Activist investor Starboard has big stake in Match Group (CN, 15 July 2024] |
| Activist context | Match Group described Starboard as the third activist investor to build a stake in 2024, after Elliott Investment Management and Anson Funds Management [Match Group Form CORRESP, FY2024 (SEC), 2024] |
| Match Group holding change | Sold about 4.2 million Match shares in Q3 2025, leaving 11,070,379 shares at 30 September 2025 [Starboard Cuts Match Group Stake (Yahoo Finance), 14 November 2025] |
About Starboard Value
Starboard Value LP is a New York-based investment adviser that invests in publicly traded companies it considers undervalued and engages with their management teams and boards to push for change. It describes its approach as focused and fundamental. The firm was founded by Jeffrey Smith in 2011, when it was spun out of Ramius LLC, a subsidiary of Cowen Group, as an independent business. Smith is Managing Member, Chief Executive Officer and Chief Investment Officer. Before Starboard he was Chief Investment Officer of the Value and Opportunity funds at Ramius.
Its main link to the dating industry is Match Group, the owner of Tinder, Hinge, Match and other brands. In July 2024 Starboard disclosed a stake of about 6.6% and sent a letter to Match's chief executive and board. The letter called for product innovation at Tinder, cost cuts to lift adjusted operating margins above 40%, and a more aggressive share buyback programme. It also said the board should stay open to strategic alternatives, including a sale, if a turnaround proved difficult. Match said at the time that it was focused on its key initiatives. Match's own regulatory filing described Starboard as the third activist investor to build a stake in the company in 2024, after Elliott Investment Management and Anson Funds Management.
Starboard has stayed a Match shareholder since. A filing reported by Yahoo Finance showed it sold about 4.2 million shares in the third quarter of 2025, leaving 11,070,379 shares at 30 September 2025. Match Group filed an amended Schedule 13D covering Starboard entities in 2026. Dating Industry Insights has described Starboard, with Elliott Management, as pressing Match towards an AI-led transformation.
Stories about Starboard Value
- Match Group's AI Pivot: Activist Pressure or Genuine Innovation?
Match Group shares are down roughly 80% since February 2021, and Elliott Management and Starboard Value are pushing an AI-led transformation.
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Questions about Starboard Value
What is Starboard Value?
Starboard Value LP is a New York-based investment adviser that invests in publicly traded companies it sees as undervalued and engages with their boards and management to seek changes.
Who runs Starboard Value?
Jeff Smith is Managing Member, Chief Executive Officer and Chief Investment Officer. He founded the firm in 2011.
What is Starboard Value's link to the dating industry?
It became a shareholder in Match Group, owner of Tinder and Hinge, in July 2024, with a stake of about 6.6%. It urged higher margins, Tinder product innovation and openness to strategic alternatives.
Is Starboard still a Match Group shareholder?
A filing reported by Yahoo Finance showed it held 11,070,379 Match shares at 30 September 2025, after selling about 4.2 million shares that quarter.
What does Starboard Value do?
Starboard Value LP is a New York investment adviser known for activist campaigns at listed companies. It became a significant shareholder in Match Group, owner of Tinder and Hinge, in July 2024, publicly urging higher margins, product innovation at Tinder and a possible sale if a turnaround failed.
Where is Starboard Value based?
Starboard Value is based in New York, United States.
When was Starboard Value founded?
Starboard Value was founded in 2011.
Also known as: Starboard, Starboard Value LP.
Sources
- Huntsman Corp SEC filing (SC 13D/A)
- Starboard Value LP Form 13F-HR, FY2011
- Jeff Smith biography, Starboard Value
- Starboard Value Sends Letter to Match Group (Business Wire)
- Activist investor Starboard has big stake in Match Group (CNBC)
- Match Group Form CORRESP, FY2024 (SEC)
- Starboard Cuts Match Group Stake (Yahoo Finance)