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

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.

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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.

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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.