It’s a little known fact that OKCupid, Match.com, and Tinder are all owned by the same company, and that company is going public. Known as Match Group, the Dallas-based company is finally going through with its long-awaited IPO soon, where it plans to raise as much as $536.7 million, a massive number that attests to the popularity of online dating services in the United States. This would value Match at more than $3.4 billion, which is more than half the value of its parent company.
Match Group Inc. on Monday said it plans to raise up to $536.7 million in its long-awaited initial public offering, as the parent company of sites including Tinder seeks to cash in on the booming market for online dating. The Dallas-based company said in a regulatory filing that it would sell 33.3 million shares at $12 to $14 a piece. Underwriters will have the option to buy up to an additional 5 million shares. Match’s listing seeks to capitalize on the booming market for dating sites in the U.S. The company, which counts 59 million monthly active users, reported $888.3 million in revenue in 2014, up about 11% from the previous year, according to its filing with the Securities and Exchange Commission. At the high-end of its price range, Match would be worth more than $3.4 billion. IAC/InterActiveCorp., which owns Match, is currently valued at $5.1 billion. Match’s IPO makes official a long-anticipated move. In June, the company disclosed it plan to go public, saying it expected to complete the process by the fourth quarter.