Swipe left: Internet dating business Match to go public

0 Posted by - October 17, 2015 - Finance News

Match, which filed the paperwork on Friday, is looking to raise $100 million with the offering.

Match is owned by IAC, the media conglomerate helmed by Barry Diller, which also controls a variety of other digital businesses like About.com and Vimeo.

The paperwork additionally reveals that Match consented in July 2015 to get PlentyOfFish, another on-line relationship website, for $575 million.

Match and Tinder, selling the chance of #Love, have been growing steadily in the past few years. The business generated a little more than $888 million resulting in about $148 million in profit in 2014. In the very first six months of 2015, Match produced revenue of $483 million and profit of $49.5 million.

IAC will realistically still have complete control over Match, but Diller previously noted that an IPO would provide with the dating business with “separation and independence from the mother church.”

Among IAC’s factors, Match noted the preponderance of cyber attacks as well as hacks perpetrated on companies which work with match. In July, AshleyMadison declared that it had endured a major cyberattack that appears to have scuttled its plans to go public.

The organization stated the risks plainly in its filing:

We’re often under attack by perpetrators of arbitrary or targeted malicious technology-associated events, including cyber attacks, computer viruses, worms or other harmful or disruptive software or distributed denial of service attacks. While we’ve invested greatly in the protection of our systems and infrastructures and in associated training, there can not be any assurance that our attempts will prevent significant violations in our systems or other similar events from happening.

Match additionally noticed the dating business has become competitive, with a number of other businesses offering lower-priced or entirely free platforms. It also noted that it is easy for customers to change between dating programs and sites.

Internet dating has indeed been a challenging business. Zoosk, another relationship company, had made plans to go public, but ended up getting after more than a year of delays.

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