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HomeLarge Cap StocksTinder Parent Match Group Inc. (MTCH) To Leave Russia after Ukraine Incursion

Tinder Parent Match Group Inc. (MTCH) To Leave Russia after Ukraine Incursion

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Match Group Inc. (NASDAQ: MTCH) inches down in pre session on Tuesday as Match Group, the parent company of Tinder, has announced its intention to leave Russia by June 30, citing the need to preserve human rights as one of many Western companies to depart since Moscow pushed soldiers into Ukraine last year.

“We are committed to protecting human rights,” Match stated in its annual impact report issued on Monday. “Our brands are taking steps to restrict access to their services in Russia, and their withdrawal from the Russian market will be complete by June 30, 2023.”

Many digital service providers with few employees in Russia, such as Spotify and Netflix, withdrew their services shortly after Moscow launched its military campaign in Ukraine in February 2022.

Match, whose brands include Tinder, Hinge, and PlentyOfFish, has made few public pronouncements concerning its Russian businesses, but has warned of severe consequences for its European company in March 2022.

Match did not reply quickly to a request for more comment.

Friends Fiduciary Corp, a Match stakeholder, said Match had set an example for others to follow by connecting their choice to the human rights threats that the Ukrainian people confront.

In September, the European police agency Europol stated that dating apps were among the internet platforms “hijacked” by persons for human trafficking objectives, calling attention to the suffering of Ukrainian refugees.

Friends Fiduciary executive director Jeff Perkins told Reuters that a company that relies on trust had excellent cause to quit Russia: “It’s not a good look for a trusted brand to be continuing operations in a nation where the head of state has been indicted by the International Criminal Court.”

On March 17, the International Criminal Court (ICC) issued an arrest order for Russian President Vladimir Putin, accusing him of the war crime of unlawfully deporting hundreds of children from Ukraine.

Moscow denies committing war crimes, including child expulsion, and claims the ICC judgment is irrelevant since Russia is not a member.

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