Match Group, the company that has founded several dating apps like Tinder, Match and OkCupid, has filed for an initial public offering.
The company filed regulatory documents Friday with an offering size of $100 million, a placeholder amount used to calculate fees that will probably change. InterActiveCorp, which Match Group is a division of, said in June that it expects Match Group to issue less than 20 percent of its common stock in IPO.
Match Group had a profit of $126.6 million in 2013 on revenue of $803.1 million and a $148.3 million profit on $888.3 million in sales in 2014, according to Bloomberg.
The firm is seeking a listing on Nasdaq under the ticker MTCH. If the Match Group IPO goes through, it would be a major mark of success for the Los Angeles tech community. IAC had incubated Tinder in L.A., West Hollywood and became one of the top revenue generating apps in the U.S. within three years.
"I've long felt that as entities grow into size and maturity, it's healthy to give them separation and independence from a mother church," IAC Chairman Barry Diller said in a prepared statement in June, The Los Angeles Times reported.
The filing of Match's dating properties reveals that they have more than 59 million monthly active users and approximately 4.7 million paid members. While Tinder and OkCupid are free, Match.com charges users a monthly fee. Tinder charges a special fee for extra features between $2.99 and $19.99. Match said in the filing that a portion of the proceeds would be paid to IAC to pay back debt.
The amount to be paid to IAC would be based on the total amount based in the IPO. The underwriters for the IPO include J.P. Morgan, Allen & Co. and Bank of America Merrill Lynch, according to The Wall Street Journal.
