Sunday, October 24, 2021
69 F
Fort Worth

Dallas company plans Wall Street hookup, hopes to raise up to $466.2M with IPO

🕐 1 min read

NEW YORK (AP) — The owner of Tinder, Match.com and OkCupid hopes to raise as much as $466.2 million in an initial public offering of company shares.

Match Group Inc. disclosed in a regulatory filing Monday that it will price its IPO of about 33.3 million shares between $12 and $14 per share. The underwriters will have a 30-day option to buy an additional 5 million shares.

The online matchmaker will list on Nasdaq under the symbol “MTCH.”

The Dallas company says it has turned a profit in each of the last three year and had $1 billion in revenue over the 12 months ended June 30.

Match Group has about 59 million active monthly users, 4.7 million of them paid, using 38 languages in more than 190 countries.

There will be three classes of stock: common stock, Class B common stock and Class C common stock. Common stockholders will be entitled to one vote per share, while Class B shareholders will get 10 votes per share. Class C shareholders cannot vote.

Parent company IAC/InterActiveCorp, controlled by billionaire Barry Diller, will own all shares of outstanding class B stock. It will maintain majority control of the company after the offering. IAC/InterAcrtiveCorp also owns Web properties like Vimeo, HomeAdvisor, About.com and CollegeHumor.

Match Group said that it currently plans to use all of the offering’s net proceeds to repay related-party debt owed to IAC/InterActiveCorp.

Match Group completed the acquisition of PlentyofFish, another online dating site, for $575 million last month.

Match was the second high-profile tech IPO pricing in as many weeks.

Last week, Jack Dorsey’s Square, the six-year-old company known for its white, cube-shaped credit and debit card readers, offered just over 31 million shares at a maximum of $13 apiece for total value of up to $403.7 million.

Related Articles

Our Digital Sponsors

Latest Articles

Texas Rangers
Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate