Tinder’s parent company is about to go public
T

It’s a little known fact that OKCupid, Match.com, and Tinder are all owned by the same company, and that company is going public. Known as Match Group, the Dallas-based company is finally going through with its long-awaited IPO soon, where it plans to raise as much as $536.7 million, a massive number that attests to the popularity of online dating services in the United States. This would value Match at more than $3.4 billion, which is more than half the value of its parent company. 

Match Group Inc. on Monday said it plans to raise up to $536.7 million in its long-awaited initial public offering, as the parent company of sites including Tinder seeks to cash in on the booming market for online dating. The Dallas-based company said in a regulatory filing that it would sell 33.3 million shares at $12 to $14 a piece. Underwriters will have the option to buy up to an additional 5 million shares. Match’s listing seeks to capitalize on the booming market for dating sites in the U.S. The company, which counts 59 million monthly active users, reported $888.3 million in revenue in 2014, up about 11% from the previous year, according to its filing with the Securities and Exchange Commission. At the high-end of its price range, Match would be worth more than $3.4 billion. IAC/InterActiveCorp., which owns Match, is currently valued at $5.1 billion. Match’s IPO makes official a long-anticipated move. In June, the company disclosed it plan to go public, saying it expected to complete the process by the fourth quarter.

NOTE: TECHi Two-Takes are the stories we have chosen from the web along with little bit of our opinion in a paragraph. Please check the original story in the Source Button below.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Interested in TECHi Feed RSS?

Get the latest insights, tips, and updates on revolutionizing your workspace to your inbox.

Popular This Week