Sources close to ParshipMeet Group have told Reuters that the online dating company has set the wheels in motion for its initial public offering in 2022.
German broadcasting conglomerate ProSiebenSat.1 acquired The Meet Group 12 months ago while it was listed on the Nasdaq market. It was merged with the rest of ProSieben’s dating products to create ParshipMeet Group and the main aim was to make the new company public within two years.
The latest update is that several investment banks have been contacted to pitch for roles in the listing, while Evercore is currently working with shareholders to help them with preparations.
ParshipMeet Group is expected to achieve a valuation of over $4 billion, compared to Bumble Inc.’s $10.5 billion and Match Group’s $38 billion.
Reports from earlier this year suggested that it was considering a listing on the Frankfurt Stock Exchange, encouraged by the recent success of German brands going public in their home country.
However, none of these rumours have been confirmed and a final decision on the location of the IPO is yet to be revealed.
There was a lot of retail excitement surrounding Bumble Inc.’s public listing in February, but the company has since lost around 30% of its value since its peak. Investors appear to be concerned about the lack of progress relating to products outside of the main Bumble dating app.
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