FORBES - June 29 - Tinder is now the number one downloaded dating app worldwide, while products like OkCupid and PlentyofFish make up Match's 9.9M paid users up from 4M in 2015. The Spinoff of Diller's 80% stake in Match could not have come at a better time for the dating app company, as it expertly morphs into video dating. If successful, it will roll out its new-era live camera dates across the group's brands, as singles' desire for interaction grows. The transaction will allow IAC to clean its balance sheet by transferring all debt (~$1.9B) to the Spinoff and end up holding $2.9B in cash. Currently, Diller and his family collectively own a 6.9% stake in IAC. His personal economic stake in MTCH ensures that he has an incentive to keep the company’s growth prospects intact. With a ~5% stake post-Spin (considering a distribution ratio of ~2.37x), a large portion of his net worth will be tied to MTCH.
by Jim Osman
See full article at Forbes
See the top news on Match Group
| |
Comments