IPO of the Week: Match Group

Match Group

Incorporated in 2009, Dallas, Texas-based Match Group is a worldwide leading provider of dating products with a diverse portfolio of brands including Tinder, Match, and OkCupid. Match Group is a wholly owned subsidiary of IAC/InterActiveCorp. In addition to the dating business, Match Group once operated in the education service industry through its ownership of The Princeton Review. The Group sold Princeton Review to Korean education technology company ST Unitas in 2017.

Match Group derives revenue from recurring subscriptions, non-recurring fees, and online advertising.

On 11/19/2015, the same day as Square’s debut, Match Group launched on Nasdaq led by J.P Morgan, Allen & Company, and BofA Merrill Lynch. The stock was priced at $12.00 per share, the low-end of indicative price range of $12.00 – $14.00/share. With a full subscription of 33.33 million offered shares and the 15% over-allotment option fully exercised, the company was valued at $2.98 billion at offer. Match opened at $13.50/share, a 12.5% jump from its offer price, and extended its gain on first day of trading to $14.74/share with a 22.83% initial return. Match Group was included in the IPOX® 100 U.S. Portfolio on 12/14/2015 and currently weighs approximately 1.2% of the portfolio.