Match Group, Incorporated (NASDAQ: MTCH) expects to raise $433 million in its upcoming IPO. Based in Dallas, Texas, Match Group provides dating products worldwide across a wide variety of websites, including Match.com.
We previewed MTCH on our IPO Insights platform.
Match Group will offer 33.3 million shares at an expected price of $12 to $14. If the underwriters price the IPO at the midpoint of that range, Match Group will have a market capitalization of $3.1 billion.
Match Group filed for the IPO on October 16, 2015.
Lead Underwriters: Allen & Co., BofA Merrill Lynch, and J.P. Morgan Securities
Underwriters: Barclays Capital, BMO Capital Markets, BNP Paribas Securities, Cowen & Co., Deutsche Bank Securities, Fifth Third Securities, Oppenheimer & Co., PNC Capital Markets, and SG Americas Securities
Business Summary: Provider of Dating Websites and Products
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(https://gotinder.com/)
Match Group provides dating products through its websites, and it operates and maintains approximately 45 brand names, such as Match.com, OkCupid, PlentyOfFish, OurTime, Tinder, Twoo, Meetic, SingleParentMeet, PetPeopleMeet, SpeedDate, LoveandSeek, and more. It websites encompass 38 languages across 190 countries. The company also provides various test preparation, college counseling, and academic tutoring services.
Match Group currently has an estimated 59 million monthly active users (MAU) and approximately 4.7 million paid members through the quarter ended September 30, 2015.
The average paying user spent over $200 last year, which resulted in $800 million in revenue for Match in 2014. The company reached an 87 percent gross margin and a 24 percent operating profit margin. However, the company holds approximately $50 million in cash and cash equivalents versus long-term debt of around $1.29 billion.
Match Group is a spinoff of IAC/InterActiveCorp, and it currently has approximately 4,800 employees. The company intends to use the proceeds of the IPO to repay party-related indebtedness issued to IAC after the determination of the IPO price, but prior to the closing of the deal.
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