NEW YORK (AP) — The operator of Tinder, Match.com and OKCupid is having a great very first date with Wall Avenue.
Shares of Match Team Inc. shares got a boost on their initial working day of buying and selling, growing $ 2.seventeen, or eighteen percent, to $ 14.17 Thursday afternoon.
The organization experienced priced its IPO at $ twelve, around the low stop of its envisioned range. It marketed about 33.3 million shares. They trade beneath the image MTCH on the Nasdaq market place.
The Dallas-primarily based organization has 50 brand names making use of 40 languages all around the planet, and about fifty nine million energetic month to month end users. It has been lucrative and had $ 1 billion in earnings over the 12 months that ended June 30.
Parent firm IAC/InterActiveCorp will maintain majority handle of Match.com after the providing. IAC/InterAcrtiveCorp also owns Internet properties like Vimeo, HomeAdvisor, About.com and CollegeHumor.
Match Group’s IPO acquired ground on the very same day that Sq., recognized for its credit score and debit card visitors that plug into smartphones, manufactured a splash with its IPO. Each shares are increasing in what has been a nervous market for technological innovation startups.
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