Tinder-Owner Match Group Announces Closing Of IPO

IAC/InterActiveCorp and Match Group, Inc. announced on Tuesday the closing of Match Group's previously announced initial public offering. The shares began trading on November 19, 2015 on the NASDAQ Global Select Market under the ticker symbol "MTCH."

“The offering of 38,333,333 shares of Match Group common stock included 5,000,000 shares of common stock that were sold pursuant to the underwriters' option to purchase additional shares, which was exercised in full prior to the closing”, the press release said.

Reuters last week reported that shares of Match Group Inc soared as much as 24 percent in their market debut last Thursday.

Following the completion of the initial public offering, Barry Diller’s IAC/InteractiveCorp, MatchGroup's parent company, owns 100% of the outstanding Class B common stock of Match Group and retains approximately 84.6% of Match Group's outstanding shares of capital stock and approximately 98.2% of the combined voting power of Match Group's outstanding capital stock, the press release added.

Earlier this month, Match Group, owner of Tinder, Match.com and OKCupid, announced their plan to raise $466.2 million in an IPO. The company operates in 190 countries and 38 languages with over 59 million monthly active users and about 4.7 million paid members as of Sept. 30.