IPO

Tinder's Parent Company Sets IPO Terms

Tinder's Parent Company Sets IPO Terms
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1 min read
This story originally appeared on Fortune Magazine

Match Group, the online dating business whose properties include Match.com and Tinder, said Monday morning that it plans to raise upwards of $467 million in an initial public offering that it expects to happen before Thanksgiving.

The New York-based company plans to offer 33.33 million shares at between $12 and $14 per share. It will trade on the NASDAQ under ticker symbol MTCH. Match Group would have an initial market cap just north of $3.1 billion, were it to price in the middle of its range. Most of the company would continue to be owned by current parent IAC/InterActiveCorp, via a triple-class stock structure.

J.P. Morgan, Allen & Co. and BofA Merrill Lynch will serve as lead underwriters on the IPO.

Match Group reports $85 million of net income on $753 million in revenue for the first nine months of 2015, compared to $100 million of net income on $649 million in revenue for the year-earlier period.

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