Match Group Stock Up 120% on Facebook Dating Announcement

Match Group’s stock has continued to break new ground in recent weeks, crossing the $78 per share mark on Wednesday 24th July. 

The online dating umbrella is now worth over $21 billion, having seen its value rise around $35 since the beginning of the year.

MTCH is up more than 120% on 4th May 2018 – the low point which occurred after Mark Zuckerberg announced Dating functionality for the Facebook platform. 

At the time, CEO Mandy Ginsberg commented: “We’re flattered that Facebook is coming into our space — and sees the global opportunity that we do — as Tinder continues to skyrocket.

(…) We understand this category better than anyone. Facebook’s entry will only be invigorating to all of us.”

She later claimed that Tinder had seen no negative impacts in the markets where Facebook Dating went live. 

Jamie O’Donoghue, an analyst at MyWallSt, this week argued that Facebook still doesn’t pose a threat to the success of Match.  

He suggests that Tinder is still current in the eyes of millenials, whereas Facebook has lost a lot of its appeal.

The piece reads: “Despite its huge market cap, one could argue that the social network has become a shadow of its former self, emptied of energy, clotted by ads — a glorified public message board or birthday greeting service.”

Read more here.