IAC/Interactive (IACI) is spinning off 45 sites including Match.com, Okcupid.com and Tinder into a new public company called the The Match Group which filed for an IPO Friday, applying to be listed on the Nasdaq under the ticker “MTCH.”
The company has filed to raised up to $100 million in the IPO.
According to the S-1, The Match Group had 4.7 million paying subscribers worldwide at the end of the third quarter.
The company is reporting trailing twelve months revenue of $1 billion ending June 30 this year, and revenue of $483.9 million for the first half of 2015.
In 2014, it generated $888.3 million in revenue and $148.4 million in net earnings.
Match Group said it would consolidate the roles of CEO and chairman by the end of 2015, which are currently held by Greg Blatt and Sam Yagan. Blatt will take over both roles and Yagan, who cofounded OkCupid which was later acquired by Match, “is expected to continue to serve in a senior leadership position.”
IAC also owns many other popular websites and apps, including Vimeo, The Daily Beast, About.com and search engine Ask.
IAC has sold off other companies including Expedia (EXPE), TripAdvisor (TRIP), Home Shopping Network (HSNI) and Live Nation (LYV).
Match.com bought OK Cupid for $50 million with earn-outs, and recently purchased Plenty of Fish for over $500 million, How About We for an undisclosed amount.
We developed 2 dating apps that Match.com wanted to acquire, in 2012, but these things don’t always work out.
Really the only players in the dating game: eHarmony, JDate, Match.com (which owns multiple properties including Tinder, OK Cupid & Plenty of Fish)
One of the most grueling experiences of my life — launching dating apps that had over 2 million users, and being deluged with scammers and hacker attacks 24/7 — never again.