The Match Group Files For $100m IPO

After announcing plans to go public earlier this year, The Match Group has now formally filed for an IPO.

In June, after years of speculation, IAC announced plans to spin off The Match Group, which owns dating products including Match.com, OkCupid, Meetic and Tinder.

And now the group has publicly filed with the SEC, looking to raise $100m for its IPO.

In its filing, The Match Group revealed its revenue reached $888m by 2014, up from $713m in 2012.

In terms of net earnings, The Match Group made $148m in 2014 and $90m in 2012.

The filing also said The Match Group has over 45 products, offering dating services in 39 languages in 190 countries, for around 59m users.

The company also revealed that during the six months before July this year, 68% of its new registrations came from a mobile device.

Speaking about its potential for growth, The Match Group said: “In countries with developed economies such as the United States, our addressable market has been expanding due to the aging population, increasing internet use among older adults and growth in singles as a percent of the total population.

“In countries with emerging economies, such as India and China, growth in the addressable market is driven by similar factors, most notably pronounced growth in internet access. Overall, our addressable market is expected to grow from approximately 511 million people to approximately 672 million people by 2019, assuming the single population in each country grows in line with the projected growth rate of the country’s total population.”

The Match Group also said it is looking to substantially increase its advertising revenue, saying it has a strategy to “meaningfully increase the sell-through at our Tinder brand, which is currently below 2% of available ad inventory, and to meaningfully increase the percentage of ad inventory on our other brands sold on a direct basis, which currently is below 2% of total ad inventory sold.”

And with the IPO, The Match Group announced that Greg Blatt would become both Chairman and CEO by the end of 2015.

Sam Yagan will serve as CEO until then, and is expected to continue in a senior leadership position in 2016.

As yet, the number of shares to be offered or the price has not been determined.

However it has been decided that The Match Group will use the ticker symbol MTCH.

For the IPO, J.P. Morgan, Allen & Co. and Bank of America Merrill Lynch are acting as the lead bookrunning managers.