Tuesday, November 10, 2015

Match Is Seeking $3.1 Billion Value in I.P.O. - The New York Times

Just a bit of fine print to consider
"The media conglomerate that owns Match, IAC/InterActiveCorp, whose chairman is Barry Diller, has been acquiring a number of dating sites over the last few years. As the online-dating industry increased in popularity, legacy sites like Match.com started facing more competition from free models like OkCupid. Mr. Diller’s strategy was to build scale by acquiring a portfolio of brands – now 45 in all – and eventually spin them off under the Match umbrella. 
Match is selling 14 percent of itself in the I.P.O., the first step in a split from IAC. But IAC will maintain control. 
Match will give three classes of stock, by which IAC’s Class B shares will represent an economic stake of 86 percent and 98.4 percent of the voting power. The class of shares sold to the public through the I.P.O. – known as common stock – will have 1.6 percent of voting power. There will not be shares of Class C, the third class, outstanding after the I.P.O.

Match plans to use the proceeds generated from the I.P.O. to repay debt to IAC."
Match Is Seeking $3.1 Billion Value in I.P.O. - The New York Times
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