The owner of Tinder, Match.com and OkCupid hopes to raise as much as $466.2 million (roughly Rs. 3,100 crores) in an initial public offering of company shares.
Match Group Inc. disclosed in a regulatory filing Monday that it will price its IPO of about 33.3 million shares between $12 and $14 (roughly Rs. 800 and Rs. 930) per share.
Match Group will list on Nasdaq under the symbol "MTCH."
There will be three classes of stock: common stock, Class B common stock and Class C common stock. Common stockholders will be entitled to one vote per share, while Class B shareholders will get 10 votes per share. Class C shareholders cannot vote.
Parent company IAC/ InterActiveCorp, controlled by billionaire Barry Diller, will own all shares of outstanding class B stock. It will maintain majority control of Match Group after the offering.
Match operates a portfolio of more than 45 brands, which also include Meetic, Twoo and Friendscout24, each of them designed "to increase our users' likelihood of finding a romantic connection," according to the filing.
Altogether, the company said it offers dating products in 38 languages in 190 countries, with approximately 59 million monthly users total.
In July, Match announced a deal to buy Canadian online dating service PlentyOfFish Media for $575 million (roughly Rs. 3,720 crores).
PlentyOfFish billed itself as an industry leader and expressed confidence that a marriage with Match would accelerate its growth.
Aside from its dating businesses, Match also has a foot in the education space with its ownership of the test preparation and college advising company The Princeton Review.
Written with agency inputs