Tinder, OKCupid parent Match Group files for IPO
Match Group Inc. filed for an initial public offering Friday, seeking to sell at least $100 million worth of shares. The company behind several dating sites, including Tinder, OKCupid, and Match, said it had 4.7 million paid members and about 59 million monthly active users on its dating products at the end of September. Its target market "includes all adults in North America, Western Europe and other select countries around the world who are not in a committed relationship and who have access to the internet," which the Dallas-based company estimated at about 511 million people. "The market for dating products is fragmented, and no single product has been able to effectively serve the dating category as a whole," it said. The company plans to trade on the Nasdaq stock exchange under the symbol MTCH. Underwriters include J. P. Morgan and Bank of America Merrill Lynch. Match Group is a subsidiary of InterActive Corp. The company's revenue hit $484 million in the six months ended in June. It earned $49.3 million between January and June, compared with $48.9 million in the same period a year ago.
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