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Match Group, Inc. is an American Internet company that owns and operates several online dating web sites including OkCupid, PlentyOfFish, Tinder, and Match.com.

Match Group, Inc.
Public
Traded asNASDAQMTCH
Russell 1000 Component
IndustryInternet
HeadquartersDallas, Texas, United States
Key people
Joseph Levin
(Chairman)
Shar Dubey
(President)
Mandy Ginsberg
(CEO)
RevenueIncrease US$1.7 billion (2018)
Increase US$553 million (2018)
Increase US$473 million (2018)
Total assetsIncrease US$2.1 billion (2018)
OwnerIAC/InterActiveCorp: 80.9% (economic)
97.6% (voting)
Websitemtch.com

Match Group is headquartered in Dallas, Texas.[1]

HistoryEdit

Match Group went public on November 19, 2015, and trades on NASDAQ with the ticker symbol MTCH.[2] The company's controlling shareholder is IAC/InterActiveCorp, its former parent. As of March 31, 2018, IAC's economic ownership interest and voting interest in Match Group were 80.9% and 97.6%, respectively.[3]

Match Group reported $1.7 billion in revenue for the year 2018 and has a 15.7 billion market cap.[4]

In January 2018, Mandy Ginsberg replaced Greg Blatt as the CEO of Match Group.[5] She previously served other leadership roles within the company, including acting as the CEO Match North America.[5]

In August 2018, Tinder co-founder Sean Rad filed a $2 billion lawsuit against Match Group, claiming that Match Group and its parent company IAC purposely undervalued Tinder to avoid paying out stock options to the company's original team.[6] Rad and his co-plaintiffs also accused the former Tinder CEO, Greg Blatt, of sexual harassment.[7] The Match Group said in a statement that the allegations are "meritless".[8]

Match Group's shares had the best day in their history on August 7, 2019, rallying by as much as 29% to new all-time highs. The gain was driven largely by Tinder's paid subscriber growth; Tinder gained 503,000 new subscribers over the prior quarter, or 1.5 million new subscribers year-over-year. At the end of Match Group's second quarter, Tinder had 5.2 million average subscribers. All of Match Group's properties reported a combined 9.1 million average subscribers at the end of the second quarter ending on June 30, 2019.[9][10][11] The share price growth added more than $5 billion to Match Group's market capitalization.[12]

AcquisitionsEdit

As of February 2018, the company owned over 45 dating app companies, including OkCupid, PlentyofFish, and Tinder.[13] In February 2019, MatchGroup acquired dating app Hinge.[14]

ReferencesEdit

  1. ^ "Match Group, Inc. (MTCH) IPO". NASDAQ. Retrieved 7 April 2016.
  2. ^ Plaugic, Lizzie. "Tinder parent company Match Group is now public". The Verge. Retrieved 26 December 2015.
  3. ^ Match Group FORM 10-Q dated May 10, 2018
  4. ^ "Match Group 8K" (PDF). Match Group. Retrieved 10 February 2019.
  5. ^ a b "Match Is the Sweetheart of Online Dating—But Can It Fend Off Facebook and Bumble?". Fortune. Retrieved 2019-07-25.
  6. ^ Carman, Ashley (2019-06-14). "Tinder co-founder's lawsuit against Tinder parent company moves closer to a trial". The Verge. Retrieved 2019-07-25.
  7. ^ Bort, Julie. "Tinder founders say former CEO 'groped and sexually harassed' an executive at a company party in a bombshell $2 billion lawsuit". Business Insider. Retrieved 2019-07-25.
  8. ^ Ha, Anthony (2018-08-14). "Tinder founders sue parent companies Match and IAC for at least $2B". TechCrunch. Retrieved 2018-08-15.
  9. ^ "Match Group Reports Second Quarter 2019 Results" (PDF). Match Group. 2019-08-06. Retrieved 2019-08-07.
  10. ^ Carville, Olivia (2019-08-06). "Match Surges Most Ever as Tinder Leads Robust Revenue Growth". www.bloomberg.com. Retrieved 2019-08-07.
  11. ^ Forman, Laura. "Match Results: Made in Heaven". WSJ. Retrieved 2019-08-07.
  12. ^ Palmer, Annie (2019-08-07). "Tinder results add more than $5 billion to Match market cap". CNBC. Retrieved 2019-08-07.
  13. ^ "How Match got away with buying 25 dating sites — and counting". finance.yahoo.com. Retrieved 2019-07-25.
  14. ^ Tiffany, Kaitlyn (2019-02-11). "Nearly all of the big dating apps are now owned by the same company". Vox. Retrieved 2019-07-25.

External linksEdit