Justin Mateen Net Worth, Age, Height, Biography, Wife, Husband, Children, Parents
Justin Mateen Net Worth
The American entrepreneur from Beverly Hills, California has a net worth of $300 million.
Justin Mateen Biography
Meet Justin Mateen, a prominent American entrepreneur with a staggering net worth of $300 million. Recognized worldwide as a co-founder of the popular dating app Tinder, Mateen's entrepreneurial journey is nothing short of impressive.
Born in March 1986, Justin hails from a remarkably affluent family deeply rooted in the real estate industry. His father, Kamyar Mateen, heads Cannon Commercial Inc, an esteemed company known for its extensive and valuable collection of commercial, retail, and multi-home properties. It's worth noting that Kamyar himself possesses one of the most valuable residences in the renowned Beverly Hills area.
Justin pursued his education at the esteemed USC Marshall School of Business, where he honed his skills and knowledge. His entrepreneurial ambitions led him to co-found Tinder, initially conceived as a startup within the Hatch Labs company incubator. This venture materialized as a joint effort with Interactive Corp, widely known as IAC. In a significant development in March 2014, IAC increased its majority stake in Tinder, valuing the app at an estimated $1 billion, marking a significant milestone for the company.
The subsequent year saw Bank of America appraising Tinder's value at an impressive $3 billion, a testament to its rapid growth and widespread success. By 2018, Tinder had become a revenue-generating powerhouse, amassing over $800 million in annual revenue.
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However, amidst the triumphs, Justin's journey faced challenges. A lawsuit brought by his former girlfriend and then VP of Tinder, Whitney Wolfe Herd, shed light on allegations of sexual harassment and discrimination within the company.
Consequently, Justin was suspended from his position while investigations into the reported incidents, which supposedly occurred in 2014, took place. Wolfe Herd later founded a competing dating app called Bumble.
Continuing the legal saga, Justin and fellow Tinder co-founder Sean Rad filed a $2 billion lawsuit against IAC, alleging that their options had been undervalued in previous financing rounds. They claimed that IAC had deliberately bought out roughly 20 early employees who collectively owned 20% of the company at a valuation of $3 billion, despite IAC's purported knowledge that the actual valuation was closer to $5 billion. As of the present time, the lawsuit remains ongoing.
Justin Mateen's achievements extend beyond Tinder's realm. His accomplishments have earned him a spot on Forbes' prestigious 30 Under 30 list and recognition as one of the most creative individuals in business by Fast Company.
Additionally, Mateen has made strategic investments in various companies, including Home Chef, Lendup, Munchery, StyleSeat, and Hyperloop One, showcasing his acumen for identifying promising ventures beyond the dating app industry.
Justin Mateen Age
The American entrepreneur was born on 31 March 1986 in Beverly Hills, California, United States. However, Justin Mateen is 37 years old as of 2023.
Justin Mateen Real Estate Investment
Justin purchased a luxurious mansion in LA's prestigious Holmby Hills neighbourhood back in February 2017, investing a staggering $15 million.
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In July 2020, Justin further expanded his property portfolio by acquiring the Bel-Air residence previously owned by Lori Loughlin and Mossimo Giannulli. The couple had initially listed the home for over $35 million, but Justin managed to secure it for $18 million.
Notably, Loughlin and Giannulli had purchased the property in 2015 for $14 million and spared no expense on lavish upgrades over the years.
