Andre Yoskowitz
18 Oct 2015 17:34
Match Group, the parent company of Tinder, Match and other dating sites, is set to go public using the symbol MTCH.
Besides Tinder and Match, the company also runs PlentyOfFish, HowAboutWe and OkCupid, giving it the largest portfolio of dating apps and sites.
Last year, the Match Group had $888.3 million in revenue, up 11 percent year-over-year and most of the sales comes through user membership fees. Net profit was $147.8 million, up 18 percent year-over-year. Altogether, the portfolio has 59 million monthly active users and 4.7 million paid members.
While the IPO will help the company raise money, it will still have over 50 percent of its shares owned by IAC, the media conglomerate.
Source:
BI