Tinder parent company Match Group seeks to woo investors with IPO
Match Group wants to woo investors with an initial public offering (IPO).
Match Group, owner of dating app Tinder as well as dating sites OKCupid and Match.com, filed documents with the Securities Exchange Commission for a listing on the Nasdaq Global Select Market under the symbol "MTCH" yesterday.
Media mogul Barry Diller's IAC/Interactive Corp, which owns Match Group, would retain control of more than 50 per cent of voting rights after the initial public offering under its ownership of class B shares.
IAC initially announced its intention to float the dating arm of its business back in June. At the time, Barclays analyst Chris Merwin told Reuters he valued Match Group at $5.7bn (£3.62bn), and that Tinder alone could be worth $2bn.
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Match Group's revenue rose 10.3 per cent to $888.1m in 2014, according to the company's IPO filing, while it jumped 19 per cent to $254.7m in the second quarter ended June.
The company offers dating products in 38 languages across more than 190 countries. It had about 59m monthly active users, and approximately 4.7m paid members in the quarter ended September 30.
JP Morgan, Allen & Co. and Bank of America are the underwriters for the offering.