IAC Boosted By Dating Growth, Will Complete PoF Acquisition This Week

IAC has beat analyst estimates for the third quarter of 2015, with its dating businesses boosting the company’s growth.

The company’s total revenue increased by 7% to $838.6m, a significant part of this coming from growth in The Match Group.

IAC’s dating segment, which just filed for IPO, saw revenues increase by 19%, from $230m in Q3 2014 to $274m in 2015.

This was driven by a 17% growth in average paid dating members, from 3.6m in 2014 to 4.2m in 2015.

Alongside this, The Match Group’s adjusted EBITDA increased 37% compared to the year before.

Speaking about the continued move to mobile, the Chairman of The Match Group, Greg Blatt, said: “The transition to mobile will continue to slow over time, as our overall percentage of new registrations coming through mobile devices was up to 72% in Q3.

“This will positively impact conversion growth rates, and we expect our continued efforts at conversion improvement through product development to positively impact conversion as well.”

Last month, The Match Group filed for a $100m IPO with the SEC, which is expected to be completed during the fourth quarter of 2015.

Blatt also said they expect to complete its $575m acquisition of Plenty of Fish by the end of the week.

When this happens, Blatt said The Match Group will have over 59m monthly active users and 4.7m paying users.

Blatt also said that the addition of Super Like to Tinder’s premium service had driven an increase in subscription rates, match rates, and conversations.

With its third quarter results, IAC also announced it had extended its partnership with Google for four more years.

This partnership provides IAC and its sites with sponsored listings and other “search-related services”.

The CEO of IAC, Joey Levin said IAC had generated nearly $10bn in revenue through their partnership with Google.