|Traded as||NASDAQ: MTCH|
Russell 1000 Component
|Headquarters||Dallas, Texas, United States|
|Revenue||US$1.7 billion (2018)|
|US$553 million (2018)|
|US$473 million (2018)|
|Total assets||US$2.1 billion (2018)|
|Owner||IAC/InterActiveCorp: 80.9% (economic)|
Match Group went public on November 19, 2015, and trades on NASDAQ with the ticker symbol MTCH. 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.
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. Rad and his co-plaintiffs also accused the former Tinder CEO, Greg Blatt, of sexual harassment. The Match Group said in a statement that the allegations are "meritless".
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. The share price growth added more than $5 billion to Match Group's market capitalization.
This section needs expansion. You can help by adding to it. (July 2019)
2019 legal action
In 2019, the Match Group was sued by the U.S. Federal Trade Commission for allegations of unfair and deceptive trade practices. According to the FTC's civil complaint, Match.com used fake love interest ads to encourage free users to pay for its premium subscription services. Accounts that were flagged as suspicious or potentially fraudulent by the site were prevented from messaging paid subscribers, but were allowed to continue messaging free users who were tricked into believing that the suspicious accounts were real users encouraging them to subscribe and connect with them.
The FTC further alleges that Match.com offered false promises of guarantees, failed to provide support to customers who unsuccessfully disputed chargers, and made it overly difficult for users to cancel their subscriptions.
Match Group, in its capacity as the parent company of Match.com, denies the allegations.
- "Match Group, Inc. (MTCH) IPO". NASDAQ. Retrieved 7 April 2016.
- Plaugic, Lizzie. "Tinder parent company Match Group is now public". The Verge. Retrieved 26 December 2015.
- Match Group FORM 10-Q dated May 10, 2018
- "Match Group 8K" (PDF). Match Group. Retrieved 10 February 2019.
- "Match Is the Sweetheart of Online Dating—But Can It Fend Off Facebook and Bumble?". Fortune. Retrieved 2019-07-25.
- 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.
- 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.
- Ha, Anthony (2018-08-14). "Tinder founders sue parent companies Match and IAC for at least $2B". TechCrunch. Retrieved 2018-08-15.
- "Match Group Reports Second Quarter 2019 Results" (PDF). Match Group. 2019-08-06. Retrieved 2019-08-07.
- Carville, Olivia (2019-08-06). "Match Surges Most Ever as Tinder Leads Robust Revenue Growth". www.bloomberg.com. Retrieved 2019-08-07.
- Forman, Laura. "Match Results: Made in Heaven". WSJ. Retrieved 2019-08-07.
- Palmer, Annie (2019-08-07). "Tinder results add more than $5 billion to Match market cap". CNBC. Retrieved 2019-08-07.
- "How Match got away with buying 25 dating sites — and counting". finance.yahoo.com. Retrieved 2019-07-25.
- Tiffany, Kaitlyn (2019-02-11). "Nearly all of the big dating apps are now owned by the same company". Vox. Retrieved 2019-07-25.
- Ivanova, Irina (September 25, 2019). "Government sues Match.com over fake "love interest" messages". CBS News. online. Retrieved 27 September 2019.
- Drayton, Nicole (September 25, 2019). "FTC Sues Owner of Online Dating Service Match.com for Using Fake Love Interest Ads To Trick Consumers into Paying for a Match.com Subscription". Federal Trade Commission. online. Retrieved 27 September 2019.
- Official website
- Business data for Match Group, Inc.: