Tinder, the explosively popular dating app, is now worth $5 billion, reports Bloomberg. Created just 20 months ago, the app syncs with your Facebook profile to scan your area for potential romantic partners. It now matches 10 million users a day.
Tinder's humongous growth is reason enough for its majority owner, Barry Diller's IAC, to buy another large stake in the company — and now the app is worth almost as much as its parent company. IAC purchased another 10 percent of Tinder from venture capitalist and early investor Chamath Palihapitiya for $500 million. That values the company at $5 billion, which is close to IAC's $5.57 billion market capitalization.
And like other quickly growing apps (see: Instagram or WhatsApp), it has yet to record a single penny in profit. Read more at Bloomberg.
Update: IAC CEO Sam Yagan tells Forbes that Tinder's valuation isn't $5 billion. While it's true that IAC did a transaction with Palihapitiya, the valuation "is nowhere near the truth." The firm actually bought a 10 percent stake for $50 million, which puts it at a $500 million valuation. Jordan Valinsky
Sen. Marco Rubio (R-Fla.) maintained Friday that he'll support the Republican presidential nominee, even if that somebody happens to be Donald Trump, The Palm Beach Post reports.
In fact, Rubio might be more impressed with the billionaire business mogul than usual, saying his "performance has improved significantly" recently.
Republican presidential frontrunner Donald Trump was none too thrilled Saturday with the protesters who blocked his way into California's Republican convention the day before:
The "protesters" in California were thugs and criminals. Many are professionals. They should be dealt with strongly by law enforcement!
— Donald J. Trump (@realDonaldTrump) April 30, 2016
Leave it to Trump to make an off-color joke about the incident once he made it inside the hotel Friday.
Jimmy Fallon has been singing bits and pieces of Styx's "Too Much Time on My Hands" on The Tonight Show for days. On Friday, he and actor Paul Rudd took the obsession to its natural conclusion, creating a shot-by-shot remake of the '80s music video. The end result is sufficiently goofy. Take a look below. Julie Kliegman
Hundreds of activists stormed Iraq's parliament building Saturday in support of Shiite cleric Muqtada al-Sadr, who had accused Iraqi politicians of corruption, CBS News reports.
The demonstrators climbed over blast walls in Baghdad's Green Zone, which houses most of the country's ministries and foreign embassies, after parliament couldn't reach quorum to hold a session. The protesters broke furniture, chanted, and waved Iraqi flags.
San Francisco Police Chief Gregory Suhr released nine pages of racist and homophobic text messages sent between officers Friday and ordered all officers to undergo anti-bias training, The New York Times reports.
"We have nothing to hide," Suhr said of his 2,000-member force. "These are the actions of a few."
The messages, which disparaged blacks, Latinos, South Asians, and LGBT people, were found as part of an investigation into a rape charge against one of the officers.
The head of an evangelical legal organization has pledged to carry a gun into Target's bathrooms to defend against transgender women. Liberty Counsel President Anita Staver is calling for a boycott of the retail chain after it announced that it will allow patrons to use the restroom that corresponds to their gender identity, The Huffington Post reports. Staver tweeted the following:
— Anita Staver (@AnitaStaver) April 22, 2016
Staver later claimed she always brings guns into public restrooms.