Advent International Appoints Shar Dubey and Mandy Ginsberg as Operating Partners

Former Match Group Executives Bring 54 Years of Collective Experience to Further Strengthen Advent's Consumer Technology Practice

Advent International ("Advent"), one of the largest and most experienced global private equity investors, today announced the appointments of Shar Dubey and Mandy Ginsberg as Operating Partners. Dubey and Ginsberg will play key roles in further building out Advent's consumer technology practice and work collaboratively with the firm's consumer and technology investment teams and the management teams of its portfolio companies.

Dubey and Ginsberg bring substantial experience in building digital communities and scaling disruptive global businesses, having each previously served as Chief Executive Officer of Match Group (NASDAQ:MTCH), a leading provider of digital technologies designed to help people make meaningful connections. Dubey and Ginsberg were instrumental in developing the online dating category, growing the business and leading the preparation and spin off of Match Group from international consumer internet conglomerate InterActiveCorp ("IAC") in 2020. Ginsberg served as CEO from 2018-2020 before transitioning the role to Dubey, who held the position until May 2022. During the combined four plus years under their leaderships, Dubey and Ginsberg helped grow Match Group's revenue and adjusted operating income by approximately 125%, respectively.

"We're thrilled to welcome Shar and Mandy as advisors to Advent as we continue to bolster the breadth and depth of our Operating Partners, who play a critical role in the evolution and growth of our portfolio companies around the world," said Tricia Glynn, Managing Director on Advent's consumer team. "Both executives have an innate understanding of how to build market leaders and digital communities, and as technology becomes a greater part of our lives, community is now more important than ever. Moreover, consumer technology is a high-growth sector that we have closely followed for a number of years and one which we believe is a strategic fit for our investment strategy and operating model, especially with the guidance and partnership of Shar and Mandy."

"I'm excited to work with Advent alongside one my closest personal and professional friends in Mandy," said Dubey. "As one of the largest and most recognized alternative investors, I have been impressed with the well-thought-out strategy and executed steps Advent has taken to scale some of the world's most prominent companies across the retail, consumer, leisure and technology spaces. I am eager to begin working closely with portfolio companies to help strategize, identify and implement meaningful growth opportunities."

"The consumer technology industry is a highly attractive and evolving sector that offers innovative products, services and experiences that can meaningfully improve and impact lives in a variety of categories from health and relationships to travel and entertainment," said Ginsberg. "After working hand in hand with Shar for many years, it's a pleasure to have the opportunity to partner with her again in a new venture and to provide our collective insights to dynamic digital businesses. Advent is a powerful and exciting platform where we can bring our industry knowledge, operational expertise and leadership experience to help create even further value at the firm's portfolio companies."

"Both Shar and Mandy maintain impeccable track records and, more importantly, are highly respected professionals who we believe will provide significant value add to our portfolio companies and their management teams while also serving as key advisors to our investment staff," said Bryan Taylor, Managing Partner and head of Advent's technology team. "We welcome them and look forward to their future contributions to the firm and our growing portfolio of leading consumer technology companies."

Prior to serving as CEO of Match Group, Dubey held a number of roles within IAC and its brands, including President of Match Group, Chief Operating Officer of Tinder, President of Americas at Match Group, Chief Product Officer of the Princeton Review and Tutor.com and Chief Product Officer at Match.com and Chemistry.com. Before joining Match Group and IAC, Dubey served as a Director of Product Marketing and Management at i2 Technologies (NKA: Blue Yonder Group) and as an Engineer at Texas Instruments. Dubey currently serves on the Board of Directors at Naspers Limited (JSE: NPN), Prosus N.V. (JSE: PRX), Fortive Corporation (NYSE:FTV), Match Group and MyFitnessPal. In 2021, she was named one of Fortune's "Most Powerful Women in Business" and was the recipient of Tech Leader of the Year for Vogue's "Women of The Year" awards. Dubey earned a MS in Engineering from Ohio State University and a BS in Engineering from the Indian Institute of Technology.

Before leading Match Group as Global and North America CEO, respectively, Ginsberg served in numerous roles at IAC over 14 years, including CEO of the Princeton Review and Tutor.com and President of Match.com. Ginsberg previously served as a Vice President of Marketing at i2 Technologies and advised consumer technology clients as a Vice President at public relations firm, Edelman. She began her career in marketing in the high-tech sector in Tel Aviv, Israel. Ginsberg currently serves on the Board of Directors at Uber Technologies (NYSE:UBER) and ThredUp (NASDAQ:TDUP). She previously served as a Director at Match Group, J.C. Penney Company and Care.com. Ginsberg earned an MBA from The Wharton School of the University of Pennsylvania and a BA in English and Spanish Literature from the University of California, Berkeley.

ABOUT ADVENT INTERNATIONAL

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 400 private equity investments across 41 countries, and as of June 30, 2022, had $96 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of 285 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit

Website: www.adventinternational.com

LinkedIn: www.linkedin.com/company/advent-international

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