Match.com and Tinder Owner Files for an IPO of Common Stock

Match Group, the owner of Match.com, OkCupid and Tinder the dating services, filed on Friday with regulators in the U.S. for a common stock initial public offering.

The IAC/InterActive Corp owned by Barry Diller the media mogul owns Match Group. Last June, IAC said it would be floating less than 20% of Match in its IPO.

Dating apps and sites have grown in popularity over the past few years with the availably instant messaging, geo-location and photo sharing services.

Revenue increased by 10.3% in 2014 to $888 million according to the IPO filing of the company, while it surged 19% to more than $254.6 million during the June ending second quarter.

A Wall Street analyst said in an interview that it looked as if the IPO would be well received in the market as it has the financials that investors are looking for.

The Match unit has solid results for the last few quarters at IAC though its internet applications and search business is its largest.

Match has agreed to purchase the dating site PlentyofFish in July for $575 million to expand into the lucrative dating services that are mobile based.

Match, the market leader, competes with eHarmony the No. 2 site and companies like Zoosk as well as Spark Networks, which owns ChristianMingle and JDate, in a dating market online that generates over $2 billion per year.

Match said it was planning to list its stock with Nasdaq under the MTCH symbol and would set a nominal target for fundraising of $100 million.

The amount the company says it is planning to raise in money in its first filings of an IPO to be used for calculating registration fees. The final IPO size could be different.

Allen & Co, BofA Merrill Lynch and JPMorgan are all underwriting the offering, said Match, in its filing with the United States SEC.

 

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