Match, Tinder to be spun off in IPO later this year
Parent company IAC previously listed Expedia, TripAdvisor, Live Nation
Nasdaq-listed IAC plans to spin off its dating site operations, called the Match Group, in an initial public offering later this year.
The Match Group is an innovator in the online dating business and runs established businesses such as dating site Match, Meetic, and OurTime, and earlier stage businesses such as Tinder and OkCupid.
"The Match Group is poised for substantial growth in the coming years," Greg Blatt, chairman of Match, said in a news release.
The dating industry is poised for more growth, as online dating becomes widely accepted, he said.
Match revenue grew 13 per cent to $239.2 million in 2014 and it was able to grow paid subscribers to its dating sites by 16 per cent.
IAC, also known as InterActiveCorp, plans to continue to hold 80 per cent of Match Group and issue 20 per cent of its common shares, in an IPO during the fourth quarter of this year, it said.
IAC, a media and e-commerce company, previously held IPOs for several of its high-profile businesses, including Expedia, TripAdvisor, Tree and Live Nation.