The owner of Tinder, Match.com and OkCupid hopes to raise as much as $466.2 million (roughly Rs. 3,100 crores) in an initial public offering of company shares.
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Match group’s revenue was $752.9m in the nine months to September this year, an increase of 16 per cent on the same period in 2014.
The company said in a regulatory filing that it would offer 33.3 million shares in a price range of $12 to $14 a piece. Underwriters will have the option to buy up to an additional 5 million shares. Match has grown from 11m monthly users four years ago to 59m today, with paying users doubling to 4.7m.
IAC has bought a number of dating sites over the last few years, including PlentyofFish for $575 million last month.
Match will list on the Nasdaq under the ticker MTCH. The common stock will have one vote per share. Class C shareholders can not vote.
Match, which disclosed the plan to go public in June, is selling 14% of itself in the IPO, but IAC will maintain control.
Match Group said that it now plans to use all of the offering’s net proceeds to repay related-party debt owed to IAC/InterActiveCorp.
Diller’s IAC/InterActiveCorp also owns Web properties like Vimeo, HomeAdvisor, About.com and CollegeHumor.
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Last week Square, the company founded in 2009 by Jack Dorsey, known for its cube-shaped, white credit and debit card readers, has offered 31 million shares at a price of no higher than $13 apiece, with a total value of approximately $403.6 million.
