The company behind Tinder is trying to raise $400 million in its IPO
Tommaso Boddi/Getty Images for Tinder
Match intends to offer 33,333,333 shares of common stock, with an initial public offering price of between $12 and $14 per share. As such, the company stands to raise between $400 million and $470 million.
Match Group will be listed on the NASDAQ under the symbol MTCH.
Along with Tinder, Match also owns OKCupid, Match, PlentyOfFish, and a number of other dating products. Here's how the company describes itself in the filing:
Match Group is the world's leading provider of dating products. We operate a portfolio of over 45 brands, including Match, OkCupid, Tinder, PlentyOfFish, Meetic, Twoo, OurTime and FriendScout24, each designed to increase our users' likelihood of finding a romantic connection. Through our portfolio of trusted brands, we provide tailored products to meet the varying preferences of our users. We currently offer our dating products in 38 languages across more than 190 countries, and we had approximately 59 million monthly active users, or MAU, and approximately 4.7 million paid members, using our dating products for the quarter ended September 30, 2015.
The IPO will value Tinder at around $3 billion. In 2014, Bloomberg reported that Tinder is worth $5 billion - a figure that IAC, which owns a majority share in Match, denied. "This valuation is nowhere near the truth," Match.com CEO Sam Yagan said.
The filing also includes a number of potential "risks" facing Match going forward. These include the fact that the relatively short history of dating apps "makes it difficult to evaluate our current business and future proposals." Additionally, as many of its products are app-based, distribution is reliant on third-party publishers: "If these third parties limit, prohibit or otherwise interfere with the distribution or use of our dating products in any material way, it could adversely affect our business, financial condition and results of operations." Cyber attacks are another risk, Match says.
Here's a link to the filing »
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- Election Commission issues notification for sixth phase of Lok Sabha polls
- 6 Coffee recipes you should try this summer
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030