Match Group Inc.is the parent company for Tinder and OKCupid, and Match.com, popular dating services.
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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.
A price has not been set.
According to the IPO filing, the revenue climbed to $888.1 million or by10. The company claims 59 million monthly active users collectively and 4.7 million paid members, as of September 30.
Why did Match’s revenue from global sources fall? Match said their fee-based business models are similar to the know-how needed to run the dating apps. Facebook has broad discretion to change its terms and conditions applicable to the use of its platform in this manner and to interpret its terms and conditions in ways that could limit, eliminate or otherwise interfere with our ability to use Facebook in this manner and if Facebook did so, our business, financial condition and results of operations could be adversely affected. At that time, InterActive Corp. had also let known that Match Group was expected to be looking at floating jus about 20% of its shares via the IPO. Dating sites and apps have gained popularity in recent years with their instant messaging, photosharing and geolocation services.
But the filing also provides no information that might be revealing, such as the number of users it has or engagement statistics or any other information about the company’s performance.
“As long as IAC owns shares of Class B common stock representing a majority of the total voting power of our outstanding capital stock, it will be able to control any corporate action that requires a stockholder vote, regardless of the vote of any other stockholder”. The online dating market has risen to a $2 billion per year market.
J.P. Morgan Securities LLC, Allen & Company LLC and BofA Merrill Lynch are acting as the lead bookrunning managers for the offering.
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IAC is a leading media and Internet company focused in the core areas of search, applications, online dating, local and media.
