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Match Group, Owner of OkCupid and Tinder, Files for IPO

Match Group Inc, the owner of dating services such as Tinder, OkCupid and Match.com, filed on Friday for an initial public offering of common stock.
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/ Source: Reuters

Match Group Inc., the owner of dating services Tinder, OkCupid and Match.com, filed with U.S. regulators on Friday for an initial public offering of common stock.

The company is owned by media mogul Barry Diller's IAC/InterActiveCorp, which said in June it would float less than 20 percent of Match in an IPO.

Revenue rose 10.3 percent to $888.1 million in 2014, according to the company's IPO filing, while it jumped 19 percent to $254.7 million in the second quarter ended June.

"It looks like it will be well received by the IPO market... it's got the financials that people are looking for," said Francis Gaskins, president of research firm IPO Desktop.

Related: Tinder Users Everywhere Can Now 'Super Like' Profiles

The Match unit has driven solid results for the past few quarters at IAC, though the internet search and applications business is the largest. It competes with No. 2 eHarmony and companies such as Zoosk and Spark Networks, which owns JDate and ChristianMingle, in the more than $2 billion-a-year U.S. online dating market.

JP Morgan, Allen & Co LLC and BofA Merrill Lynch are the underwriters for the offering, Match said in a filing with the U.S. Securities and Exchange Commission. Match said it plans to list its stock on the Nasdaq under the symbol "MTCH" and set a nominal fundraising target of $100 million.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.