After a bizarre interview from one of its executives on the day of its IPO pricing, today Match Group, owner of the popular Tinder dating app, listed as a public company, spinning out from its parent IAC. The company yesterday raised $400 million with its IPO priced at $12 per share, and today it opened for trading as $MTCH at $13.50/share, a pop of 12.5%.
The company’s $12 share price valued Match Group at around $2.9 billion, with IAC valued post IPO at around $4.9 billion, as it will continue to retain a stake in Match Group.
After this public listing, IAC still owns 85% of Match Group.
Tinder, the dating app that lets you swipe right and left on potential matches based on whether you like or reject them, is possibly the most well known of the Match Group properties. Others include include OkCupid.
Collectively, Match Group has 59 million monthly active users, with about 4.7 million paid members as of Q3 of this year.
Match Group’s products are in 38 languages across more than 190 countries, the company said in its S-1 filing. The company had 1,600 full-time employees and 3,300 part-time employees around the world as of the end of the second quarter this year.
It’s unclear what kind of affect the interview by Sean Rad — the CEO and co-founder of Tinder, but not an executive officer of Match Group — had on Match Group’s IPO, but his shower of comments about his personal dating habits and life in general did cause many tongues to wag and even led to Match Group issuing a last-minute update to its S-1 filing disavowing themselves of the words of their 29 year-old savant.
The stock has crept as high as $14 in trading today, and we’ll be sure to update the price as we