Search
IAC Will Turn Match Dating Service Into a Separate Business
The Match.com logo and website. Photograph by Andrew Harrer — Bloomberg via Getty Images

IAC says it’s planning an IPO for Match.com

Jun 25, 2015

IAC/InterActiveCorp is planning an initial public offering for The Match Group, the dating conglomerate behind popular sites such as Match.com, OkCupid, and Tinder.

IAC expects The Match Group to issue less than 20% of its common stock in the IPO, with IAC's remaining stake in The Match Group represented by both high- and low-vote common shares.

"The Match Group is poised for substantial growth in the coming years," said Greg Blatt, chairman of The Match Group, in a statement Thursday. The IPO is expected to be completed in the fourth quarter of this year.

The Match Group's portfolio of dating sites, made up of 40 brands around the world, generated revenues of more than $780 million and profits of more than $260 million in 2013. The success of these sites has clearly prompted IAC to move towards an IPO, and the market has responded in kind: Shares of IAC rose more than 5% in premarket trading Thursday following the news of the planned stock offering, reported CNBC.

The company also announced that Joey Levin, formerly CEO of its search & applications business, has been named CEO of IAC and has joined its board of directors.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions